Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Has Consensus Price Target of $699.20 According to Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $699.20.

MDGL has been the subject of several analyst reports. Citigroup began coverage on shares of Madrigal Pharmaceuticals in a report on Wednesday, September 23rd. They issued a “buy” rating and a $725.00 price objective for the company. Wells Fargo & Company began coverage on shares of Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an “overweight” rating and a $685.00 target price on the stock. The Goldman Sachs Group began coverage on Madrigal Pharmaceuticals in a research report on Thursday, September 24th. They set a “buy” rating and a $704.00 target price on the stock. Barclays dropped their target price on Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Finally, Canaccord Genuity Group raised their price target on Madrigal Pharmaceuticals from $578.00 to $587.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, General Counsel Shannon T. Kelley sold 664 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the sale, the general counsel owned 11,474 shares in the company, valued at approximately $5,908,765.78. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Sibold sold 6,362 shares of Madrigal Pharmaceuticals stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $535.59, for a total value of $3,407,423.58. Following the sale, the chief executive officer directly owned 202,967 shares of the company’s stock, valued at approximately $108,707,095.53. This trade represents a 3.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 12,247 shares of company stock worth $6,581,182. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. increased its stake in shares of Madrigal Pharmaceuticals by 9.8% in the third quarter. Oppenheimer & Co. Inc. now owns 540 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 48 shares during the period. Citizens Financial Group Inc. RI bought a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $872,000. Inspire Investing LLC boosted its position in Madrigal Pharmaceuticals by 7.0% during the 3rd quarter. Inspire Investing LLC now owns 1,220 shares of the biopharmaceutical company’s stock valued at $615,000 after buying an additional 80 shares during the period. MBL Wealth LLC purchased a new stake in Madrigal Pharmaceuticals during the 3rd quarter valued at $527,000. Finally, Root Financial Partners LLC bought a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth $82,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Trading Up 0.8%

MDGL opened at $437.74 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. Madrigal Pharmaceuticals has a fifty-two week low of $393.61 and a fifty-two week high of $615.00. The firm has a market capitalization of $10.11 billion, a PE ratio of -33.96 and a beta of -1.04. The company’s 50-day moving average is $506.16 and its 200 day moving average is $501.82.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, beating the consensus estimate of ($2.68) by $0.69. The company had revenue of $364.25 million during the quarter, compared to the consensus estimate of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The firm’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.90) earnings per share. As a group, research analysts predict that Madrigal Pharmaceuticals will post -7.03 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for nonalcoholic steatohepatitis, now known as metabolic dysfunction-associated steatohepatitis (MASH), and other chronic liver diseases. The company is headquartered in West Conshohocken, Pennsylvania.

Madrigal’s lead product is Rezdiffra (resmetirom), an orally administered thyroid hormone receptor beta agonist designed to target key drivers of liver disease, including hepatic fat accumulation and fibrosis.