Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $351.67 Average Target Price from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. One 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 12-month price target among brokers that have issued ratings on the stock in the last year is $351.67.

A number of brokerages recently issued reports on MDGL. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Oppenheimer lowered their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, HC Wainwright increased their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th.

Madrigal Pharmaceuticals Trading Up 5.3 %

Shares of MDGL opened at $339.97 on Friday. 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 has a 12-month low of $168.25 and a 12-month high of $368.29. The firm has a 50-day moving average price of $314.42 and a 200 day moving average price of $276.65. The firm has a market capitalization of $7.41 billion, a P/E ratio of -13.56 and a beta of -0.38.

Insider Activity

In related news, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the director now owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now owns 5,058 shares of the company’s stock, valued at $1,382,907.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,090 shares of company stock valued at $3,883,621. 22.80% of the stock is currently owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Braidwell LP acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,010,000. Eagle Asset Management Inc. acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $6,875,000. Intech Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $1,280,000. Vestal Point Capital LP acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $6,367,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $393,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

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.