Canaccord Genuity Group Issues Positive Forecast for Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price

Key Points

• Canaccord Genuity raised its price target on Madrigal Pharmaceuticals to $633 from $612 and maintained a Buy rating, implying 58.08% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: MarketBeat reported 14 Buy, two Hold, and one Sell rating, with an average price target of $706.87.
• Quarterly results exceeded expectations: Madrigal reported EPS of $1.83 versus analysts’ expected loss of $1.09, and revenue of $431.27 million versus the $404.17 million consensus.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) had its price target increased by analysts at Canaccord Genuity Group from $612.00 to $633.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's price objective would indicate a potential upside of 58.08% from the company's current price.

MDGL has been the topic of a number of other reports. Citigroup lifted their target price on shares of Madrigal Pharmaceuticals from $725.00 to $760.00 and gave the stock a "buy" rating in a research note on Tuesday. Wells Fargo & Company assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, July 27th. They issued an "overweight" rating and a $685.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, October 15th. UBS Group restated a "buy" rating and set a $735.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 14th. Finally, The Goldman Sachs Group started coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, September 24th. They set a "buy" rating and a $704.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $706.87.

Madrigal Pharmaceuticals Trading Up 1.0%

NASDAQ MDGL traded up $4.11 on Wednesday, reaching $400.43. 2,313,643 shares of the company were exchanged, compared to its average volume of 347,010. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The business's fifty day moving average price is $494.64 and its 200 day moving average price is $498.92. The stock has a market capitalization of $9.25 billion, a P/E ratio of -31.07 and a beta of -0.98. Madrigal Pharmaceuticals has a fifty-two week low of $353.54 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The biopharmaceutical company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.09) by $2.92. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%. The business had revenue of $431.27 million during the quarter, compared to the consensus estimate of $404.17 million. During the same period last year, the company earned ($5.08) EPS. Analysts forecast that Madrigal Pharmaceuticals will post -7.03 earnings per share for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, CEO William Sibold sold 5,221 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $542.39, for a total value of $2,831,818.19. Following the transaction, the chief executive officer owned 197,746 shares of the company's stock, valued at $107,255,452.94. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Also, General Counsel Shannon Kelley sold 664 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the transaction, the general counsel directly owned 11,474 shares in the company, valued at $5,908,765.78. The trade was a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 12,247 shares of company stock worth $6,581,182. 17.60% of the stock is owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $1,039,650,000. Paulson & CO. Inc. purchased a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $719,524,000. BlackRock Inc. purchased a new position in Madrigal Pharmaceuticals in the second quarter worth approximately $644,753,000. Janus Henderson Group PLC grew its holdings in Madrigal Pharmaceuticals by 27.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company's stock worth $1,051,727,000 after acquiring an additional 433,804 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $174,038,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Key Madrigal Pharmaceuticals News

Here are the key news stories impacting Madrigal Pharmaceuticals this week:

• Positive Sentiment: Q3 results beat expectations. Madrigal reported earnings of $1.83 per share, versus analysts’ expected loss of $1.09, and revenue of $431.27 million, above the $404.17 million consensus. Rezdiffra sales rose 50%, surpassing $1 billion, supporting the case that the drug’s commercial ramp is driving a turnaround. Madrigal Q3 results
• Positive Sentiment: Analysts raised targets and maintained bullish ratings. Truist reaffirmed Buy and lifted its target to $743; Citi previously raised its target to $760, also with a Buy rating. Such views may support sentiment, though targets are not guarantees. Truist rating
• Neutral Sentiment: Pipeline plans offer longer-term potential, but key data are not imminent. Madrigal expects MAESTRO-NASH OUTCOMES results in late 2027 and is planning a large MAESTRO-CSPH study. These programs could broaden future opportunity, while the readout timeline leaves room for uncertainty. Pipeline update
• Negative Sentiment: Profitability concerns and legal scrutiny remain risks. Coverage noted investor concerns about near-term profitability despite the reported quarterly earnings beat. Separately, Kaplan Fox announced an investigation into potential securities-law violations; the announcement does not establish that wrongdoing occurred. Investigation announcement

About Madrigal Pharmaceuticals

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.

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