Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Target Price at $356.73

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $356.73.

Several equities research analysts have recently issued reports on MDGL shares. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $155.00 to $270.00 in a research report on Friday, March 15th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. TD Cowen raised their price objective on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. JMP Securities boosted their target price on Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, Citigroup raised their price target on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Madrigal Pharmaceuticals Trading Up 6.4 %

Shares of MDGL stock opened at $229.84 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. The stock has a fifty day simple moving average of $240.99 and a two-hundred day simple moving average of $215.18. The firm has a market capitalization of $4.89 billion, a PE ratio of -11.53 and a beta of -0.33. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $313.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period in the previous year, the firm posted ($4.98) earnings per share. On average, analysts predict that Madrigal Pharmaceuticals will post -21.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director James M. Daly sold 32,489 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the sale, the director now directly owns 1,198 shares in the company, valued at $123,118.46. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $102.77, for a total value of $3,338,894.53. Following the completion of the sale, the director now owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock valued at $31,362,420 in the last ninety days. 23.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. boosted its stake in Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after acquiring an additional 605,741 shares in the last quarter. RTW Investments LP lifted its holdings in shares of Madrigal Pharmaceuticals by 163.4% during the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after purchasing an additional 505,706 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in Madrigal Pharmaceuticals by 21.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock valued at $437,051,000 after purchasing an additional 333,888 shares in the last quarter. Bain Capital Life Sciences Investors LLC purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth $75,110,000. Finally, AlpInvest Partners B.V. acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $48,934,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.