Madrigal Pharmaceuticals (NASDAQ:MDGL) Sets New 52-Week High - What's Next?

Key Points

• Madrigal Pharmaceuticals reached a new 52-week high of $439.00 during trading, closing at $437.71 with a significant volume of 304,210 shares traded.
• Analysts have shown strong positive sentiment towards the stock, with nine rating it as a Buy and setting a consensus price target of $459.25, indicating potential upside.
• The company's quarterly earnings exceeded expectations, reporting $212.8 million in revenue and EPS of ($1.90), a significant improvement compared to the previous year's ($7.10) EPS.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $439.00 and last traded at $437.71, with a volume of 304210 shares. The stock had previously closed at $437.17.

Analyst Ratings Changes

A number of research firms recently commented on MDGL. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. UBS Group reaffirmed a "buy" rating and set a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. TD Cowen lifted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Canaccord Genuity Group lifted their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, JMP Securities lifted their price target on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $459.25.

Madrigal Pharmaceuticals Stock Performance

The company has a market capitalization of $9.70 billion, a PE ratio of -33.98 and a beta of -1.02. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The firm's 50-day simple moving average is $338.57 and its 200-day simple moving average is $320.30.

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

Insider Activity

In other news, Director Bros. Advisors Lp Baker acquired 68,618 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $364.04 per share, for a total transaction of $24,979,696.72. Following the purchase, the director directly owned 1,859,091 shares in the company, valued at $676,783,487.64. The trade was a 3.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kenneth Bate sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $365.20, for a total transaction of $3,652,000.00. Following the transaction, the director owned 2,627 shares of the company's stock, valued at approximately $959,380.40. This trade represents a 79.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 165,683 shares of company stock worth $61,921,142 and have sold 301,740 shares worth $109,461,331. Insiders own 21.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. VSM Wealth Advisory LLC acquired a new position in Madrigal Pharmaceuticals during the 1st quarter valued at approximately $25,000. Accent Capital Management LLC acquired a new position in Madrigal Pharmaceuticals during the 1st quarter valued at approximately $25,000. AlphaQuest LLC increased its stake 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 in the last quarter. Summit Securities Group LLC acquired a new position in Madrigal Pharmaceuticals during the 1st quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC increased its stake in Madrigal Pharmaceuticals by 825.0% during the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds 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.

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