Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $405.00

Madrigal Pharmaceuticals (NASDAQ:MDGL - Free Report) had its price target boosted by HC Wainwright from $400.00 to $405.00 in a report published on Thursday, MarketBeat.com reports. The firm currently has a buy rating on the biopharmaceutical company's stock.

MDGL has been the topic of several other reports. JMP Securities restated a "market outperform" rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. B. Riley boosted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $375.75.

Madrigal Pharmaceuticals Stock Performance

MDGL stock traded down $27.80 during mid-day trading on Thursday, hitting $313.47. The company had a trading volume of 522,564 shares, compared to its average volume of 433,292. 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 firm has a market cap of $6.84 billion, a PE ratio of -12.50 and a beta of -0.38. Madrigal Pharmaceuticals has a 12 month low of $189.00 and a 12 month high of $377.46. The stock's fifty day moving average price is $322.93 and its two-hundred day moving average price is $285.32.

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Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $97.81 million. On average, analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the firm's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $120,847.22. Following the sale, the vice president now owns 5,058 shares of the company's stock, valued at $1,382,907.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now owns 1,912 shares of the company's stock, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,160 shares of company stock valued at $8,067,652. Company insiders own 22.80% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Paulson & CO. Inc. grew its stake in Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock worth $433,353,000 after buying an additional 192,000 shares in the last quarter. RTW Investments LP lifted its holdings in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock worth $423,100,000 after acquiring an additional 77,825 shares during the last quarter. State Street Corp grew its position in Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock worth $188,399,000 after acquiring an additional 143,038 shares in the last quarter. FMR LLC increased its stake in Madrigal Pharmaceuticals by 10.8% in the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after acquiring an additional 84,305 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Madrigal Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after purchasing an additional 4,923 shares in the last quarter. 98.50% of the stock is 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.