Brokerages Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) PT at $348.17

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $348.17.

MDGL has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price objective for the company. Citigroup cut their price target on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Oppenheimer lifted their price target on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Bank of America started coverage on shares of Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an “underperform” rating and a $150.00 price target for the company. Finally, Evercore ISI lifted their price target on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Fred B. Craves sold 22,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the completion of the sale, the director now owns 413,362 shares in the company, valued at approximately $87,996,502.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on 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 transaction, the director now owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fred B. Craves sold 22,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the completion of the transaction, the director now directly owns 413,362 shares in the company, valued at approximately $87,996,502.56. The disclosure for this sale can be found here. Insiders sold a total of 173,921 shares of company stock worth $37,491,547 in the last quarter. 23.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in shares of Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock worth $490,000 after purchasing an additional 57 shares in the last quarter. Global Retirement Partners LLC raised its position in Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Dana Investment Advisors Inc. raised its position in Madrigal Pharmaceuticals by 4.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock worth $734,000 after acquiring an additional 124 shares in the last quarter. Principal Financial Group Inc. raised 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 worth $1,069,000 after acquiring an additional 127 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter worth $41,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $280.04 on Friday. The company has a 50-day moving average of $234.85 and a 200-day moving average of $235.52. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -12.13 and a beta of -0.41. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the prior year, the company earned ($4.23) EPS. As a group, equities research analysts anticipate that Madrigal Pharmaceuticals will post -27.62 earnings per share for the current fiscal year.

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.