Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $400.00 at HC Wainwright

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price increased by HC Wainwright from $390.00 to $400.00 in a report published on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Oppenheimer cut their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group raised their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. B. Riley upped their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $351.67.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $274.12 on Tuesday. The company has a fifty day moving average of $318.25 and a two-hundred day moving average of $272.57. The company has a market capitalization of $5.98 billion, a PE ratio of -10.93 and a beta of -0.36. Madrigal Pharmaceuticals has a 1 year low of $168.25 and a 1 year high of $368.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the firm posted ($5.34) earnings per share. As a group, analysts expect that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,600 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $3,468,410. The trade was a 24.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $3,830,836 in the last ninety days. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in MDGL. Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after buying an additional 111,111 shares during the last quarter. Paulson & CO. Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after acquiring an additional 192,000 shares during the period. RTW Investments LP lifted its holdings in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares during the period. State Street Corp boosted its position in shares of Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.