Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $685.31 Consensus Target Price from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $685.3077.

MDGL has been the topic of a number of recent research reports. B. Riley Financial boosted their price objective on Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. The Goldman Sachs Group reissued a “buy” rating and set a $571.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. UBS Group set a $900.00 price objective on Madrigal Pharmaceuticals in a research note on Friday, December 19th. Piper Sandler increased their price target on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $533.88 on Thursday. The company’s 50-day moving average price is $468.13 and its 200-day moving average price is $494.67. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56. The company has a market cap of $12.25 billion, a P/E ratio of -41.48 and a beta of -1.00. Madrigal Pharmaceuticals has a twelve month low of $265.00 and a twelve month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($2.61). The business had revenue of $321.08 million during the quarter, compared to analysts’ expectations of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The business’s quarterly revenue was up 210.8% on a year-over-year basis. During the same period in the prior year, the business posted ($2.71) earnings per share. On average, sell-side analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Shannon T. Kelley sold 360 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $155,498.40. Following the completion of the sale, the general counsel owned 12,138 shares of the company’s stock, valued at $5,242,887.72. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Carole Huntsman sold 419 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $180,982.86. Following the completion of the sale, the insider directly owned 12,692 shares of the company’s stock, valued at approximately $5,482,182.48. This trade represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 55,612 shares of company stock worth $28,326,065. 21.50% of the stock is currently owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $29,000. Aventura Private Wealth LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $36,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $39,000. Mather Group LLC. acquired a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $33,000. Finally, Global Retirement Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 51 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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