Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Price Target at $416.33

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) have been given an average rating of "Moderate Buy" by the ten research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $416.33.

A number of analysts have recently commented on the company. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. UBS Group raised their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. B. Riley reissued a "buy" rating and set a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Finally, HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th.

Madrigal Pharmaceuticals Stock Down 4.2%

Shares of MDGL stock traded down $12.50 during trading hours on Monday, hitting $282.86. 351,034 shares of the company were exchanged, compared to its average volume of 385,519. The business has a 50 day moving average of $320.58 and a two-hundred day moving average of $319.07. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a 52 week low of $200.63 and a 52 week high of $377.46. The company has a market capitalization of $6.28 billion, a PE ratio of -11.28 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. During the same quarter last year, the firm earned ($7.38) earnings per share. Analysts anticipate that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James M. Daly sold 15,470 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 1,227 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the sale, the vice president now owns 3,728 shares in the company, valued at approximately $1,271,508.96. This trade represents a 24.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Large investors have recently made changes to their positions in the company. VSM Wealth Advisory LLC bought a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $25,000. Accent Capital Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter valued at approximately $33,000. Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 825.0% during the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 99 shares during the period. Finally, GAMMA Investing LLC increased its position in Madrigal Pharmaceuticals by 131.4% during the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 67 shares during the period. Institutional investors own 98.50% of the company's stock.

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.