Madrigal Pharmaceuticals (NASDAQ:MDGL) PT Lowered to $200.00

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) had its price objective decreased by analysts at B. Riley from $270.00 to $200.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. B. Riley's price objective indicates a potential downside of 2.56% from the stock's current price.

MDGL has been the subject of a number of other reports. Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an "outperform" rating in a report on Friday, March 15th. Citigroup dropped their price objective on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a "buy" rating for the company in a report on Wednesday. HC Wainwright dropped their price objective on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a "buy" rating for the company in a report on Wednesday. StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a report on Friday, April 12th. Finally, UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $345.09.

Madrigal Pharmaceuticals Stock Down 0.8 %

Shares of MDGL traded down $1.67 on Friday, reaching $205.25. The company's stock had a trading volume of 234,030 shares, compared to its average volume of 521,894. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $302.68. The stock has a market capitalization of $4.37 billion, a PE ratio of -10.38 and a beta of -0.33. The firm has a fifty day moving average of $239.11 and a 200-day moving average of $216.95.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same quarter in the previous year, the firm posted ($4.23) EPS. Equities analysts predict that Madrigal Pharmaceuticals will post -21.86 EPS for the current year.

Insider Activity

In other news, Director Richard S. Levy sold 11,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the sale, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the sale, the director now directly owns 10,298 shares of the company's stock, valued at approximately $2,651,529.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Daly sold 32,489 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the sale, the director now directly owns 1,198 shares in the company, valued at $123,118.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in Madrigal Pharmaceuticals by 21.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the biopharmaceutical company's stock valued at $301,000 after purchasing an additional 367 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of Madrigal Pharmaceuticals by 53.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,567 shares of the biopharmaceutical company's stock worth $229,000 after purchasing an additional 544 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth $314,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 11.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,501 shares of the biopharmaceutical company's stock worth $15,992,000 after purchasing an additional 11,083 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company's stock worth $229,770,000 after purchasing an additional 107,816 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.