HC Wainwright Boosts Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $400.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target increased by investment analysts at HC Wainwright from $390.00 to $400.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would suggest a potential upside of 31.71% from the company’s current price.

Several other equities analysts have also weighed in on MDGL. B. Riley raised their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $351.67.

Madrigal Pharmaceuticals Stock Down 10.4 %

Shares of Madrigal Pharmaceuticals stock opened at $303.70 on Tuesday. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of -12.11 and a beta of -0.36. The stock has a 50-day simple moving average of $319.52 and a 200-day simple moving average of $272.61. Madrigal Pharmaceuticals has a 52-week low of $168.25 and a 52-week high of $368.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results 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 business had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the firm earned ($5.34) earnings per share. On average, equities research analysts expect that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the sale, the director now owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the transaction, the director now directly owns 14,600 shares in the company, valued at $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $3,830,836 in the last three months. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several large investors have recently bought and sold shares of MDGL. Avoro Capital Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after purchasing an additional 111,111 shares during the last quarter. Paulson & CO. Inc. raised its position in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after acquiring an additional 192,000 shares during the period. RTW Investments LP boosted its stake in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares during the last quarter. State Street Corp grew its holdings in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares during the period. Finally, Geode Capital Management LLC increased its stake in Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.