Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $356.73 Average Price Target from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $356.73.

Several analysts have recently commented on MDGL shares. UBS Group raised their price target on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a report on Friday, March 15th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. TD Cowen increased their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Bank of America initiated coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price objective for the company. Finally, Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the transaction, the director now owns 185,735 shares of the company’s stock, valued at approximately $45,726,099.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the sale, the director now owns 185,735 shares in the company, valued at approximately $45,726,099.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now 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 sold 146,496 shares of company stock valued at $31,362,420. Company insiders own 23.92% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its position in Madrigal Pharmaceuticals by 2.8% during the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock valued at $490,000 after acquiring an additional 57 shares during the period. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 1.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 4,309 shares of the biopharmaceutical company’s stock valued at $629,000 after purchasing an additional 74 shares in the last quarter. Global Retirement Partners LLC increased its position in Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in Madrigal Pharmaceuticals by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock valued at $734,000 after buying an additional 124 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Madrigal Pharmaceuticals by 3.3% during the first quarter. Principal Financial Group Inc. now owns 4,002 shares of the biopharmaceutical company’s stock valued at $1,069,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 2.5 %

Madrigal Pharmaceuticals stock opened at $235.57 on Thursday. The stock has a 50 day moving average of $241.05 and a two-hundred day moving average of $216.47. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $313.11. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same quarter in the prior year, the business earned ($4.98) EPS. As a group, research analysts expect that Madrigal Pharmaceuticals will post -21.86 EPS for the current fiscal year.

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.