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

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective dropped by equities research analysts at B. Riley from $270.00 to $200.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. B. Riley’s price objective would suggest a potential downside of 3.34% from the company’s current price.

Several other brokerages have also issued reports on MDGL. JMP Securities lowered their target price on Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Bank of America started coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price objective on the stock. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, April 12th. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Oppenheimer raised 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. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $345.09.

Madrigal Pharmaceuticals Trading Down 0.5 %

Shares of Madrigal Pharmaceuticals stock opened at $206.92 on Friday. The stock has a fifty day moving average price of $239.11 and a 200-day moving average price of $216.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The firm has a market cap of $4.40 billion, a PE ratio of -10.38 and a beta of -0.33. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $302.68.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period last year, the firm posted ($4.23) EPS. Equities research analysts anticipate that Madrigal Pharmaceuticals will post -21.86 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CMO Rebecca Taub sold 27,506 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the transaction, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at approximately $111,701,996.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CMO Rebecca Taub sold 27,506 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the completion of the sale, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $111,701,996.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,496 shares of company stock valued at $31,362,420. 23.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in shares of Madrigal Pharmaceuticals by 34.9% during the 3rd quarter. Raymond James & Associates now owns 20,451 shares of the biopharmaceutical company’s stock valued at $2,987,000 after purchasing an additional 5,295 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Madrigal Pharmaceuticals by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,786 shares of the biopharmaceutical company’s stock valued at $8,585,000 after purchasing an additional 2,288 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Madrigal Pharmaceuticals by 16.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,039 shares of the biopharmaceutical company’s stock valued at $298,000 after purchasing an additional 284 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Madrigal Pharmaceuticals by 32.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,275 shares of the biopharmaceutical company’s stock worth $9,236,000 after purchasing an additional 15,304 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Madrigal Pharmaceuticals in the third quarter worth $318,000. 98.50% of the stock is 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.