Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Rating Upgraded by B. Riley

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) was upgraded by stock analysts at B. Riley from a "hold" rating to a "strong-buy" rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $422.00 price target on the biopharmaceutical company's stock, up from their previous price target of $236.00. B. Riley's price objective suggests a potential upside of 31.33% from the stock's current price.

Other research analysts have also issued reports about the company. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, JMP Securities reiterated a "market outperform" rating and set a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $375.75.

Remove Ads

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded up $7.85 on Thursday, reaching $321.32. 677,202 shares of the company's stock were exchanged, compared to its average volume of 433,444. Madrigal Pharmaceuticals has a twelve month low of $189.00 and a twelve month high of $377.46. The company has a fifty day moving average of $322.98 and a 200-day moving average of $285.80. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -12.81 and a beta of -0.38. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

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, beating analysts' consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. On average, research analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 347 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $116,328.28. Following the transaction, the insider now owns 10,438 shares in the company, valued at $3,499,235.12. The trade was a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Rebecca Taub sold 1,689 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of the transaction, the chief marketing officer now owns 457,310 shares in the company, valued at approximately $125,033,127.10. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,560 shares of company stock valued at $6,932,536. Corporate insiders own 22.80% of the company's stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at $141,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Madrigal Pharmaceuticals by 23.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,538 shares of the biopharmaceutical company's stock valued at $8,497,000 after purchasing an additional 5,182 shares during the period. Woodline Partners LP increased its position in shares of Madrigal Pharmaceuticals by 110.2% during the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock valued at $95,384,000 after purchasing an additional 162,027 shares during the last quarter. Vestal Point Capital LP lifted its stake in shares of Madrigal Pharmaceuticals by 216.7% in the 4th quarter. Vestal Point Capital LP now owns 95,000 shares of the biopharmaceutical company's stock worth $29,314,000 after purchasing an additional 65,000 shares during the period. Finally, Soleus Capital Management L.P. bought a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $3,363,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

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.