Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $378.44 Consensus PT from Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $378.44.

Several research analysts have recently weighed in on the stock. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Citigroup boosted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities restated a "market outperform" rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from $236.00 to $422.00 in a research report on Thursday, February 27th.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded down $9.26 during mid-day trading on Friday, reaching $334.03. The company's stock had a trading volume of 125,133 shares, compared to its average volume of 410,879. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $329.76 and its two-hundred day moving average is $295.52. Madrigal Pharmaceuticals has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The stock has a market cap of $7.38 billion, a PE ratio of -13.32 and a beta of -0.41.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping analysts' consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analysts' expectations of $97.81 million. Equities research analysts expect that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other news, CMO Rebecca Taub sold 1,689 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the transaction, the chief marketing officer now owns 457,310 shares of the company's stock, valued at approximately $125,033,127.10. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $12,168,079 in the last three months. 22.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $70,000. GF Fund Management CO. LTD. acquired a new position in Madrigal Pharmaceuticals during the 4th quarter worth approximately $141,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $164,000. Quest Partners LLC raised its holdings in shares of Madrigal Pharmaceuticals by 172.8% in the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company's stock valued at $123,000 after purchasing an additional 368 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 258 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

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.