Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $441.00

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) had its price target upped by UBS Group from $411.00 to $441.00 in a report released on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. UBS Group's target price would indicate a potential upside of 37.99% from the company's current price.

MDGL has been the subject of several other research reports. Oppenheimer cut their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Evercore ISI lowered their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. JMP Securities raised their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 16th. Citigroup lowered their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $344.33.

Madrigal Pharmaceuticals Stock Up 23.2 %

Shares of MDGL traded up $60.24 during mid-day trading on Friday, hitting $319.58. 3,056,161 shares of the company's stock were exchanged, compared to its average volume of 436,666. The company has a 50-day simple moving average of $227.40 and a 200 day simple moving average of $242.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67. The company has a market cap of $6.94 billion, a PE ratio of -12.74 and a beta of -0.44. Madrigal Pharmaceuticals has a 52 week low of $133.99 and a 52 week high of $321.19.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the business earned ($5.34) EPS. On average, research analysts forecast that Madrigal Pharmaceuticals will post -27.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares of the company's stock, valued at $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 22.80% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MDGL. First Horizon Advisors Inc. lifted its holdings 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 period. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter worth $41,000. Signaturefd LLC lifted its stake in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 in the last quarter. Finally, Quest Partners LLC increased its stake in shares of Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 209 shares during the last quarter. 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.