Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) shares hit a new 52-week high during trading on Monday after UBS Group raised their price target on the stock from $411.00 to $441.00. UBS Group currently has a buy rating on the stock. Madrigal Pharmaceuticals traded as high as $324.00 and last traded at $322.63, with a volume of 124277 shares traded. The stock had previously closed at $319.58.
Several other analysts have also recently issued reports on the company. Oppenheimer cut their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. Finally, Evercore ISI cut their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $344.33.
View Our Latest Stock Report on MDGL
Insider Activity
In other news, CEO William John Sibold sold 6,363 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares of the company's stock, valued at $13,626,927.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.80% of the company's stock.
Institutional Investors Weigh In On Madrigal Pharmaceuticals
Several institutional investors have recently modified their holdings of MDGL. Signaturefd LLC lifted its stake in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock worth $41,000 after acquiring an additional 39 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 68 shares during the last quarter. Creative Planning lifted its stake in shares of Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock worth $700,000 after acquiring an additional 87 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 98 shares during the last quarter. Finally, Verity Asset Management Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company's stock worth $311,000 after acquiring an additional 101 shares during the last quarter. 98.50% of the stock is owned by institutional investors.
Madrigal Pharmaceuticals Price Performance
The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $7.19 billion, a P/E ratio of -13.21 and a beta of -0.46. The stock has a 50 day moving average of $227.40 and a 200-day moving average of $242.80.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping 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 quarter in the previous year, the business earned ($5.34) earnings per share. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.27 earnings per share for the current fiscal year.
Madrigal Pharmaceuticals Company Profile
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Get Free Report)
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.
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