Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $617.07 Consensus Price Target from Brokerages

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $617.0714.

A number of equities analysts have weighed in on MDGL shares. Citizens Jmp upped their price objective on shares of Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 5th. Bank of America raised Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their price target for the company from $266.00 to $445.00 in a research report on Monday, November 3rd. B. Riley raised their price objective on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Citigroup reaffirmed an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th.

Madrigal Pharmaceuticals Stock Up 1.2%

MDGL opened at $501.68 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $561.83 and a two-hundred day moving average price of $454.73. The company has a market cap of $11.39 billion, a PE ratio of -38.56, a P/E/G ratio of 3.48 and a beta of -1.00. Madrigal Pharmaceuticals has a 52 week low of $265.00 and a 52 week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. As a group, research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insiders Place Their Bets

In related news, insider Carole Huntsman sold 1,958 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $553.11, for a total value of $1,082,989.38. Following the sale, the insider directly owned 10,032 shares of the company’s stock, valued at approximately $5,548,799.52. The trade was a 16.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William John Sibold sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $575.34, for a total value of $1,380,816.00. Following the sale, the chief executive officer owned 150,074 shares in the company, valued at approximately $86,343,575.16. This represents a 1.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 120,506 shares of company stock valued at $64,037,125 in the last ninety days. 21.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MDGL. AlphaQuest LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Mather Group LLC. bought a new stake in Madrigal Pharmaceuticals during the third quarter worth $33,000. Global Retirement Partners LLC increased its position in Madrigal Pharmaceuticals by 221.7% in the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares during the last quarter. First Horizon Corp purchased a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at $34,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $36,000. Institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.