Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $341.75 Average Price Target from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $341.75.

A number of equities research analysts recently issued reports on the company. StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. JMP Securities boosted their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 16th. Evercore ISI decreased their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Citigroup dropped their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th.

Insider Activity at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were 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 in the company, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% in the second 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. EntryPoint Capital LLC bought a new position in Madrigal Pharmaceuticals in the 1st quarter valued at approximately $41,000. Signaturefd LLC boosted its position in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock valued at $41,000 after buying an additional 39 shares in the last quarter. Quest Partners LLC grew its stake in shares of 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 buying an additional 209 shares during the last quarter. Finally, BNP Paribas acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth $68,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Trading Up 0.3 %

Shares of MDGL stock traded up $0.51 during trading hours on Thursday, reaching $202.99. The company had a trading volume of 257,802 shares, compared to its average volume of 421,659. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $299.98. The company has a 50 day moving average of $229.91 and a 200 day moving average of $243.02. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -8.71 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. During the same period in the previous year, the business posted ($4.69) EPS. The business's quarterly revenue was up 146280.0% compared to the same quarter last year. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post -27.47 EPS for the current year.

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.