Madrigal Pharmaceuticals (NASDAQ:MDGL) Sets New 1-Year High - What's Next?

Key Points

• Madrigal Pharmaceuticals' stock reached a new 52-week high of $422.00, closing at $415.50, with strong trading volume of 354 shares.
• Analysts predominantly maintain a positive outlook on the stock, with an average rating of "Moderate Buy" and price targets ranging from $428.00 to $523.00.
• The company reported a remarkable revenue increase of 1357.5% year-over-year, totaling $212.80 million for the last quarter, despite posting a negative earnings per share of ($1.90).

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $422.00 and last traded at $415.50, with a volume of 354 shares changing hands. The stock had previously closed at $414.68.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDGL. Cowen reaffirmed a "buy" rating on shares of Madrigal Pharmaceuticals in a report on Tuesday. Canaccord Genuity Group increased their price objective on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. UBS Group reaffirmed a "buy" rating and set a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. TD Cowen increased their target price on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, JMP Securities raised their price target on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a report on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $459.25.

Madrigal Pharmaceuticals Stock Up 0.2%

The company has a market cap of $9.72 billion, a P/E ratio of -34.07 and a beta of -1.02. The stock has a 50-day moving average of $335.47 and a two-hundred day moving average of $319.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The business's revenue was up 1357.5% compared to the same quarter last year. During the same period last year, the firm posted ($7.10) earnings per share. On average, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 10,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the completion of the sale, the director directly owned 2,627 shares in the company, valued at $959,380.40. This represents a 79.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul A. Friedman sold 129,172 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total value of $47,824,641.28. Following the transaction, the director directly owned 187,164 shares in the company, valued at $69,295,599.36. This trade represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 165,683 shares of company stock valued at $61,921,142 and sold 301,740 shares valued at $109,461,331. Company insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in MDGL. VSM Wealth Advisory LLC purchased a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at about $25,000. Accent Capital Management LLC purchased a new position in Madrigal Pharmaceuticals during the 1st quarter valued at about $25,000. AlphaQuest LLC increased its holdings in Madrigal Pharmaceuticals by 412.5% during the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 66 shares during the period. Summit Securities Group LLC bought a new position in Madrigal Pharmaceuticals during the 1st quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 825.0% in 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. 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.