HC Wainwright Issues Positive Forecast for Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) had its target price raised by investment analysts at HC Wainwright from $390.00 to $400.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's price target points to a potential upside of 45.92% from the company's previous close.

Several other research analysts also recently issued reports on the stock. Oppenheimer lowered their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. B. Riley boosted 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. UBS Group raised 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. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $351.67.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock traded down $29.58 during trading on Tuesday, hitting $274.12. The company had a trading volume of 576,689 shares, compared to its average volume of 420,261. The firm has a market capitalization of $5.98 billion, a P/E ratio of -10.93 and a beta of -0.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock's 50-day moving average price is $318.25 and its 200 day moving average price is $272.57. Madrigal Pharmaceuticals has a one year low of $168.25 and a one year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) earnings per share. Equities analysts expect that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard S. Levy sold 5,000 shares of the business'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 sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $3,468,410. This trade represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $3,830,836 over the last 90 days. Company insiders own 22.80% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Madrigal Pharmaceuticals by 47.6% in the 3rd 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. Quest Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company's stock worth $60,000 after acquiring an additional 209 shares in the last quarter. Centaurus Financial Inc. bought a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $163,000. Amalgamated Bank boosted its stake in Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company's stock valued at $170,000 after purchasing an additional 102 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $216,000. Institutional investors own 98.50% of the company's stock.

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.