Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) had its target price upped by B. Riley from $194.00 to $236.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. B. Riley's target price would suggest a potential downside of 30.10% from the company's previous close.
MDGL has been the subject of a number of other research reports. JMP Securities boosted their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 16th. HC Wainwright restated a "buy" rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $347.33.
View Our Latest Research Report on MDGL
Madrigal Pharmaceuticals Trading Up 1.9 %
Shares of NASDAQ:MDGL traded up $6.29 during midday trading on Tuesday, reaching $337.61. The company's stock had a trading volume of 771,286 shares, compared to its average volume of 441,060. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of -13.07 and a beta of -0.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a 1 year low of $133.99 and a 1 year high of $337.63. The business has a 50 day moving average price of $228.91 and a 200 day moving average price of $243.57.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted ($5.34) EPS. Research analysts forecast that Madrigal Pharmaceuticals will post -27.27 EPS for the current year.
Insider Activity
In other news, CEO William John Sibold sold 6,363 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 55,887 shares of the company's stock, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Madrigal Pharmaceuticals
Hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 98 shares during the period. 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 period. EntryPoint Capital LLC bought a new position in Madrigal Pharmaceuticals during the first quarter worth about $41,000. Nisa Investment Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 68 shares during the period. Finally, Quest Partners LLC lifted its stake in 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 purchasing an additional 209 shares during the period. Institutional investors own 98.50% of the company's stock.
Madrigal Pharmaceuticals Company Profile
(
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.
Featured Stories
Before you consider Madrigal Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Madrigal Pharmaceuticals wasn't on the list.
While Madrigal Pharmaceuticals currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
