Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $215.93, but opened at $245.66. Madrigal Pharmaceuticals shares last traded at $244.25, with a volume of 231,826 shares traded.
Analysts Set New Price Targets
A number of brokerages have commented on MDGL. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th. Evercore ISI decreased their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. JMP Securities boosted their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 16th. Finally, Citigroup reduced their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $341.75.
Read Our Latest Stock Analysis on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Stock Performance
The company has a market cap of $5.53 billion, a PE ratio of -11.23 and a beta of -0.44. 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 business has a 50-day moving average of $225.85 and a 200 day moving average of $241.90.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts' consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analysts' expectations of $4.25 million. The firm's revenue was up 146280.0% compared to the same quarter last year. During the same quarter last year, the company posted ($4.69) EPS. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.38 EPS for the current fiscal year.
Insiders Place Their Bets
In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company'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 completion of the sale, the chief executive officer now owns 55,887 shares in the company, 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 this hyperlink. Company insiders own 23.92% of the company's stock.
Institutional Trading of Madrigal Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of MDGL. Price T Rowe Associates Inc. MD boosted its stake in shares of Madrigal Pharmaceuticals by 106.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company's stock worth $214,491,000 after acquiring an additional 414,484 shares during the period. Fiera Capital Corp bought a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $32,335,000. Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock valued at $575,884,000 after buying an additional 111,111 shares during the last quarter. Artal Group S.A. bought a new position in Madrigal Pharmaceuticals during the first quarter valued at approximately $29,510,000. Finally, Point72 Asset Management L.P. boosted its stake in Madrigal Pharmaceuticals by 172.6% during the second quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company's stock valued at $11,475,000 after buying an additional 97,387 shares during the last quarter. Hedge funds and other 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.
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