Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $347.33

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $347.33.

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. B. Riley raised their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. HC Wainwright restated a "buy" rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. Finally, UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st.

Insiders Place Their Bets

In related news, Director Fred B. Craves sold 3,400 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now owns 14,600 shares in the company, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company's stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock valued at $3,830,836. Company insiders own 22.80% of the company's stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in shares of Madrigal Pharmaceuticals by 116.8% during the second quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company's stock worth $579,000 after purchasing an additional 1,114 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Madrigal Pharmaceuticals by 19.9% during the second quarter. Rhumbline Advisers now owns 25,351 shares of the biopharmaceutical company's stock valued at $7,102,000 after acquiring an additional 4,209 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Madrigal Pharmaceuticals by 10.7% during the second quarter. TD Asset Management Inc now owns 55,730 shares of the biopharmaceutical company's stock valued at $15,613,000 after acquiring an additional 5,400 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Madrigal Pharmaceuticals by 5.8% in the second quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company's stock valued at $631,000 after acquiring an additional 124 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Madrigal Pharmaceuticals by 8.3% in the 2nd quarter. Arizona State Retirement System now owns 3,525 shares of the biopharmaceutical company's stock valued at $988,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 0.8 %

Shares of MDGL stock traded up $2.43 during mid-day trading on Tuesday, hitting $323.24. 173,811 shares of the stock traded hands, compared to its average volume of 226,803. Madrigal Pharmaceuticals has a 52-week low of $168.25 and a 52-week high of $368.29. The stock has a market cap of $7.05 billion, a P/E ratio of -12.89 and a beta of -0.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock's fifty day moving average is $313.75 and its two-hundred day moving average is $271.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analysts' expectations of $34.60 million. During the same period in the previous year, the company earned ($5.34) EPS. Equities analysts predict that Madrigal Pharmaceuticals will post -23.77 EPS for the current year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.