HC Wainwright Increases Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $405.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price raised by HC Wainwright from $400.00 to $405.00 in a report published on Thursday morning, Marketbeat.com reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on MDGL. JMP Securities restated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. B. Riley increased their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.25.

Madrigal Pharmaceuticals Stock Down 5.7 %

Shares of NASDAQ:MDGL opened at $335.74 on Thursday. The business’s 50-day moving average is $321.42 and its 200-day moving average is $283.69. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $377.46. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -13.39 and a beta of -0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. Equities research analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 347 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $116,328.28. Following the transaction, the insider now owns 10,438 shares of the company’s stock, valued at $3,499,235.12. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert E. Waltermire sold 103 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the transaction, the vice president now owns 4,955 shares in the company, valued at $1,661,114.20. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,690 shares of company stock worth $2,692,601 in the last quarter. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MDGL. Paulson & CO. Inc. increased its position in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares during the last quarter. RTW Investments LP grew its position in Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after buying an additional 77,825 shares during the period. State Street Corp increased its holdings in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after buying an additional 143,038 shares during the last quarter. FMR LLC raised its position in Madrigal Pharmaceuticals by 10.8% in the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock worth $267,792,000 after acquiring an additional 84,305 shares during the period. Finally, Geode Capital Management LLC raised its position in Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock worth $126,719,000 after acquiring an additional 4,923 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.