Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $654.73 Consensus Target Price from Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given an average rating of “Moderate Buy” by the eighteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $654.7333.

MDGL has been the subject of several recent research reports. Wolfe Research set a $579.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a report on Friday, November 21st. JMP Securities set a $527.00 price target on shares of Madrigal Pharmaceuticals in a research note 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 company a “buy” rating in a research report on Thursday, November 13th.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $464.71 on Wednesday. The firm has a market cap of $10.55 billion, a P/E ratio of -35.72, a price-to-earnings-growth ratio of 6.73 and a beta of -1.01. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. Madrigal Pharmaceuticals has a 1 year low of $265.00 and a 1 year high of $615.00. The stock has a 50-day simple moving average of $531.66 and a 200-day simple moving average of $475.66.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 18,650 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $552.15, for a total transaction of $10,297,597.50. Following the transaction, the director directly owned 461,044 shares in the company, valued at $254,565,444.60. This represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William John Sibold sold 2,400 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $575.34, for a total transaction of $1,380,816.00. Following the transaction, the chief executive officer directly owned 150,074 shares of the company’s stock, valued at approximately $86,343,575.16. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 101,495 shares of company stock valued at $54,568,691. Insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. AlphaQuest LLC raised its position in shares of Madrigal Pharmaceuticals by 412.5% during the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 66 shares during the period. Flagship Harbor Advisors LLC bought a new position in Madrigal Pharmaceuticals during the 4th quarter worth $29,000. Mather Group LLC. acquired a new stake in Madrigal Pharmaceuticals in the third quarter worth $33,000. Global Retirement Partners LLC lifted its stake in Madrigal Pharmaceuticals by 221.7% in the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 51 shares during the last quarter. Finally, First Horizon Corp bought a new stake in Madrigal Pharmaceuticals in the third quarter valued at $34,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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-? agonist in Phase 3 development for the treatment of NASH.