Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Has Average Price Target of $699.20

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $699.20.

A number of research analysts recently issued reports on MDGL shares. Wells Fargo & Company assumed coverage on shares of Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an “overweight” rating and a $685.00 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Wolfe Research raised Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 target price for the company in a research note on Tuesday, August 4th. UBS Group restated a “buy” rating and issued a $735.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 14th. Finally, The Goldman Sachs Group assumed coverage on Madrigal Pharmaceuticals in a research report on Thursday, September 24th. They issued a “buy” rating and a $704.00 target price on the stock.

Madrigal Pharmaceuticals Trading Down 1.0%

NASDAQ:MDGL opened at $453.34 on Tuesday. The company has a quick ratio of 2.94, a current ratio of 3.20 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average price is $509.70 and its two-hundred day moving average price is $514.83. Madrigal Pharmaceuticals has a 52-week low of $393.61 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%. The firm had revenue of $364.25 million during the quarter, compared to analysts’ expectations of $352.13 million. During the same period in the previous year, the business posted ($1.90) EPS. The company’s quarterly revenue was up 71.2% compared to the same quarter last year. On average, research analysts forecast that Madrigal Pharmaceuticals will post -7.03 EPS for the current year.

Insider Activity

In other news, General Counsel Shannon Kelley sold 664 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the sale, the general counsel owned 11,474 shares in the company, valued at $5,908,765.78. The trade was a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Sibold sold 5,221 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $542.39, for a total transaction of $2,831,818.19. Following the transaction, the chief executive officer directly owned 197,746 shares in the company, valued at approximately $107,255,452.94. This represents a 2.57% decrease in their ownership of the stock. 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. Insiders have sold a total of 12,247 shares of company stock valued at $6,581,182 in the last ninety days. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. Persistent Asset Partners Ltd acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at $29,000. Global Retirement Partners LLC bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $34,000. Root Financial Partners LLC acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter worth $82,000. GAMMA Investing LLC grew its stake in shares of Madrigal Pharmaceuticals by 35.4% in the second quarter. GAMMA Investing LLC now owns 172 shares of the biopharmaceutical company’s stock worth $92,000 after purchasing an additional 45 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Madrigal Pharmaceuticals during the 1st quarter worth $93,000. 98.50% of the stock is owned by institutional investors.

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.