Madrigal Pharmaceuticals (NASDAQ:MDGL) Given New $745.00 Price Target at Citizens Jmp

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective lifted by Citizens Jmp from $527.00 to $745.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the biopharmaceutical company’s stock.

MDGL has been the topic of a number of other reports. Piper Sandler increased their price objective on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, October 8th. Wolfe Research set a $579.00 price objective on Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. Zacks Research cut Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, Truist Financial upped their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $632.64.

Madrigal Pharmaceuticals Trading Up 0.7%

Shares of NASDAQ MDGL opened at $504.95 on Tuesday. Madrigal Pharmaceuticals has a 1-year low of $265.00 and a 1-year high of $615.00. The company has a market cap of $11.47 billion, a PE ratio of -38.81, a P/E/G ratio of 4.87 and a beta of -1.00. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $561.10 and a two-hundred day moving average of $456.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. As a group, equities analysts expect that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 8,500 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $520.96, for a total value of $4,428,160.00. Following the completion of the sale, the director directly owned 21,197 shares of the company’s stock, valued at $11,042,789.12. This represents a 28.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul A. Friedman sold 24,800 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $552.18, for a total transaction of $13,694,064.00. Following the completion of the sale, the director owned 187,164 shares in the company, valued at $103,348,217.52. This represents a 11.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 123,436 shares of company stock valued at $65,479,642. Corporate insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Baker BROS. Advisors LP raised its holdings in Madrigal Pharmaceuticals by 8.4% in the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares during the period. William Blair Investment Management LLC raised its stake in Madrigal Pharmaceuticals by 17.6% during the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock worth $188,877,000 after buying an additional 61,513 shares during the period. Wellington Management Group LLP grew its stake in Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock valued at $185,507,000 after acquiring an additional 397,076 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock worth $113,842,000 after acquiring an additional 184,554 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Madrigal Pharmaceuticals by 49.5% in the third quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock worth $137,398,000 after acquiring an additional 99,209 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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