Madrigal Pharmaceuticals (NASDAQ:MDGL) Sets New 1-Year High on Analyst Upgrade

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s share price reached a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $411.00 to $441.00. UBS Group currently has a buy rating on the stock. Madrigal Pharmaceuticals traded as high as $324.00 and last traded at $322.63, with a volume of 124277 shares. The stock had previously closed at $319.58.

Several other equities analysts have also recently commented on the stock. JMP Securities lifted their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. HC Wainwright reissued a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $344.33.

Insider Activity

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on 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 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 legal filing with the SEC, which is available at this hyperlink. 22.80% of the stock is currently owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the period. EntryPoint Capital LLC acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at about $41,000. Signaturefd LLC lifted its stake 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 during the period. Nisa Investment Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the period. Finally, Quest Partners LLC lifted its stake in Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 209 shares during the period. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

The company has a market cap of $7.00 billion, a price-to-earnings ratio of -12.74 and a beta of -0.46. 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 stock has a 50-day moving average price of $227.40 and a 200 day moving average price of $242.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) earnings per share. As a group, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.27 EPS for the current fiscal 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.