Madrigal Pharmaceuticals (NASDAQ:MDGL) PT Lowered to $382.00 at Citigroup

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price reduced by equities researchers at Citigroup from $389.00 to $382.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price objective suggests a potential upside of 84.61% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. HC Wainwright decreased their price target on Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. JMP Securities dropped their target price on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Evercore ISI raised their price target on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $155.00 to $270.00 in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $351.45.

Madrigal Pharmaceuticals Stock Down 0.5 %

Shares of Madrigal Pharmaceuticals stock opened at $206.92 on Wednesday. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market cap of $4.40 billion, a P/E ratio of -10.38 and a beta of -0.33. The firm’s 50 day moving average price is $239.11 and its 200-day moving average price is $216.95. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $302.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period last year, the firm earned ($4.23) EPS. On average, sell-side analysts predict that Madrigal Pharmaceuticals will post -21.86 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the sale, the director now owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul A. Friedman sold 26,270 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the completion of the transaction, the director now owns 185,735 shares of the company’s stock, valued at approximately $45,726,099.65. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock worth $31,362,420 over the last quarter. 23.92% of the stock is currently owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently bought and sold shares of MDGL. Montag A & Associates Inc. raised its stake in shares of Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares during the period. Global Retirement Partners LLC increased its holdings in Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $53,000. China Universal Asset Management Co. Ltd. lifted its holdings in Madrigal Pharmaceuticals by 95.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 228 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at about $68,000. 98.50% of the stock is owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

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.