Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $375.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective boosted by Oppenheimer from $320.00 to $375.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on MDGL. B. Riley upgraded shares of Madrigal Pharmaceuticals from a sell rating to a neutral rating and upped their price target for the stock from $155.00 to $270.00 in a research report on Friday. JMP Securities increased their target price on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an outperform rating in a research report on Friday. Citigroup increased their target price on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a buy rating in a research report on Friday. UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a buy rating in a research report on Friday. Finally, Piper Sandler increased their target price on shares of Madrigal Pharmaceuticals from $305.00 to $336.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $369.40.

Madrigal Pharmaceuticals Trading Up 4.8 %

Shares of NASDAQ:MDGL traded up $12.86 during trading on Friday, reaching $283.23. The stock had a trading volume of 963,934 shares, compared to its average volume of 578,717. The business has a fifty day moving average price of $233.69 and a 200-day moving average price of $197.62. Madrigal Pharmaceuticals has a fifty-two week low of $119.76 and a fifty-two week high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The stock has a market cap of $5.64 billion, a P/E ratio of -14.20 and a beta of -0.48.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the prior year, the business earned ($4.98) EPS. As a group, analysts anticipate that Madrigal Pharmaceuticals will post -21.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Montag A & Associates Inc. increased its holdings in Madrigal Pharmaceuticals by 223.3% in the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Madrigal Pharmaceuticals in the first quarter worth approximately $55,000. KBC Group NV acquired a new position in Madrigal Pharmaceuticals in the fourth quarter worth approximately $60,000. Finally, Osaic Holdings Inc. increased its holdings in Madrigal Pharmaceuticals by 30.1% in the second quarter. Osaic Holdings Inc. now owns 333 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 79.86% 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.