UBS Group Raises Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $410.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective boosted by UBS Group from $337.00 to $410.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently issued reports on the stock. JMP Securities reaffirmed a market outperform rating and issued a $347.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, February 23rd. B. Riley raised shares of Madrigal Pharmaceuticals from a sell rating to a neutral rating and raised their price objective for the stock from $155.00 to $270.00 in a research note on Friday. Piper Sandler raised their price objective on shares of Madrigal Pharmaceuticals from $305.00 to $336.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. StockNews.com raised shares of Madrigal Pharmaceuticals to a sell rating in a research note on Wednesday, February 7th. Finally, Citigroup began coverage on shares of Madrigal Pharmaceuticals in a research note on Wednesday, March 6th. They set a buy rating and a $382.00 price objective for the company. One research 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 company presently has a consensus rating of Moderate Buy and a consensus target price of $369.40.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded up $12.86 during mid-day trading on Friday, hitting $283.23. 963,934 shares of the stock were exchanged, compared to its average volume of 578,717. The stock’s fifty day simple moving average is $233.69 and its two-hundred day simple moving average is $197.62. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -14.20 and a beta of -0.48. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $322.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period last year, the business posted ($4.98) EPS. On average, analysts forecast that Madrigal Pharmaceuticals will post -21.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MDGL. Paulson & CO. Inc. increased its stake in shares of Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after purchasing an additional 605,741 shares during the last quarter. RTW Investments LP boosted its holdings in shares of Madrigal Pharmaceuticals by 163.4% during the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after buying an additional 505,706 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Madrigal Pharmaceuticals by 1,468.0% during the 2nd quarter. Alliancebernstein L.P. now owns 371,116 shares of the biopharmaceutical company’s stock worth $85,728,000 after buying an additional 347,448 shares during the period. Federated Hermes Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth $33,616,000. Finally, Avoro Capital Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 21.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after buying an additional 333,888 shares during the period. 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.