Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price Up 6% - Still a Buy?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report)'s share price was up 6% during trading on Wednesday . The company traded as high as $300.94 and last traded at $299.31. Approximately 273,463 shares were traded during trading, a decline of 28% from the average daily volume of 377,534 shares. The stock had previously closed at $282.32.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MDGL shares. UBS Group increased their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Canaccord Genuity Group raised their price objective on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $420.63.

Madrigal Pharmaceuticals Price Performance

The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $6.56 billion, a P/E ratio of -11.79 and a beta of -1.08. The stock has a 50 day moving average of $297.30 and a 200-day moving average of $314.40.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period in the prior year, the business posted ($7.38) earnings per share. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MDGL. Paulson & CO. Inc. lifted its position in Madrigal Pharmaceuticals by 2.8% during the 1st quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company's stock worth $695,425,000 after acquiring an additional 57,523 shares during the period. FMR LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after buying an additional 84,305 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after buying an additional 4,923 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $114,717,000. Finally, Woodline Partners LP lifted its holdings in shares of Madrigal Pharmaceuticals by 2.7% in the 1st quarter. Woodline Partners LP now owns 317,433 shares of the biopharmaceutical company's stock valued at $105,143,000 after buying an additional 8,316 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.