Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $347.33 Average Target Price from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $347.33.

Several research firms have commented on MDGL. StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. 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. Finally, UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a report on Friday, November 1st.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $288.58 on Monday. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of -11.51 and a beta of -0.46. The firm has a 50-day simple moving average of $243.84 and a two-hundred day simple moving average of $251.14. Madrigal Pharmaceuticals has a one year low of $160.15 and a one year high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate 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 posted ($5.34) earnings per share. On average, equities analysts forecast that Madrigal Pharmaceuticals will post -24.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William John Sibold sold 6,363 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares of the company's stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its holdings in Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after purchasing an additional 31 shares during the period. Signaturefd LLC grew its holdings in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock valued at $41,000 after purchasing an additional 39 shares during the period. Victory Capital Management Inc. grew its holdings in Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock valued at $486,000 after purchasing an additional 40 shares during the period. Nisa Investment Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 68 shares during the period. Finally, Creative Planning lifted its position in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after acquiring an additional 87 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.