Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $495.88

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $525.8750.

Several research analysts recently weighed in on MDGL shares. B. Riley lifted their price target on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 8th. JMP Securities boosted their price objective on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 20th. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Finally, Canaccord Genuity Group boosted their price objective on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a “buy” rating in a research report on Friday, September 12th.

Madrigal Pharmaceuticals Trading Down 0.4%

Shares of NASDAQ:MDGL opened at $427.73 on Thursday. Madrigal Pharmaceuticals has a 52-week low of $200.63 and a 52-week high of $463.63. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of -33.29 and a beta of -1.02. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $416.81 and a 200-day moving average price of $341.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The company’s revenue for the quarter was up 1357.5% compared to the same quarter last year. During the same period last year, the business posted ($7.10) earnings per share. Equities analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Bros. Advisors Lp Baker purchased 59,901 shares of the stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $385.16 per share, with a total value of $23,071,469.16. Following the completion of the purchase, the director directly owned 1,947,968 shares of the company’s stock, valued at approximately $750,279,354.88. The trade was a 3.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul A. Friedman sold 129,172 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the completion of the sale, the director directly owned 187,164 shares in the company, valued at $69,295,599.36. This represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 165,683 shares of company stock valued at $61,921,142 and sold 309,019 shares valued at $112,705,072. Insiders own 21.50% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Madrigal Pharmaceuticals by 7.9% in the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock worth $8,733,000 after acquiring an additional 1,924 shares during the last quarter. GAMMA Investing LLC boosted its stake in Madrigal Pharmaceuticals by 131.4% during the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 67 shares during the last quarter. XTX Topco Ltd acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $392,000. Park Avenue Securities LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $217,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Madrigal Pharmaceuticals by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 151,251 shares of the biopharmaceutical company’s stock worth $50,099,000 after buying an additional 505 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.