Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $405.00 at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price increased by equities researchers at HC Wainwright from $400.00 to $405.00 in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 13.80% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. B. Riley boosted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $352.08.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $355.88 on Thursday. The firm has a 50 day moving average of $320.16 and a 200-day moving average of $283.18. The firm has a market capitalization of $7.76 billion, a P/E ratio of -14.19 and a beta of -0.38. Madrigal Pharmaceuticals has a 12 month low of $189.00 and a 12 month high of $377.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. As a group, sell-side analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 103 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the sale, the vice president now owns 4,955 shares of the company’s stock, valued at $1,661,114.20. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carole Huntsman sold 347 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $116,328.28. Following the sale, the insider now directly owns 10,438 shares of the company’s stock, valued at $3,499,235.12. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,690 shares of company stock worth $2,692,601 over the last ninety days. Company insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDGL. Paulson & CO. Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares during the period. RTW Investments LP grew its position in shares of Madrigal Pharmaceuticals by 4.1% in the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after purchasing an additional 77,825 shares during the period. State Street Corp boosted its holdings in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after buying an additional 143,038 shares during the last quarter. FMR LLC increased its position in shares of Madrigal Pharmaceuticals by 10.8% during the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock worth $267,792,000 after purchasing an additional 84,305 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock valued at $126,719,000 after purchasing an additional 4,923 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.