Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $416.33.

Several research analysts have weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group upped their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup upped their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, HC Wainwright upped their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th.

Madrigal Pharmaceuticals Stock Up 0.7%

Madrigal Pharmaceuticals stock traded up $2.01 during trading on Friday, hitting $280.24. 310,471 shares of the company were exchanged, compared to its average volume of 370,225. The business's 50 day moving average is $299.01 and its 200 day moving average is $315.39. 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 $6.22 billion, a P/E ratio of -11.17 and a beta of -1.08. 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 (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same quarter last year, the company posted ($7.38) EPS. Analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in MDGL. Newbridge Financial Services Group Inc. bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $1,297,000. Franklin Resources Inc. increased its stake in Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock worth $1,878,000 after acquiring an additional 4,704 shares during the last quarter. Raymond James Financial Inc. bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth about $16,615,000. Prudential Financial Inc. increased its stake in Madrigal Pharmaceuticals by 166.2% in the 4th quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after acquiring an additional 2,282 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Madrigal Pharmaceuticals by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company's stock worth $46,516,000 after acquiring an additional 2,776 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

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.