HC Wainwright Forecasts Strong Price Appreciation for Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective boosted by equities research analysts at HC Wainwright from $390.00 to $400.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 45.77% from the stock’s previous close.

A number of other research firms have also commented on MDGL. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. B. Riley raised their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $351.67.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $274.41 on Tuesday. The company has a 50-day simple moving average of $316.98 and a two-hundred day simple moving average of $272.58. Madrigal Pharmaceuticals has a 12-month low of $168.25 and a 12-month high of $368.29. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -10.94 and a beta of -0.36. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the company earned ($5.34) earnings per share. On average, equities analysts forecast that Madrigal Pharmaceuticals will post -23.77 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Fred B. Craves sold 3,400 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now directly owns 14,600 shares in the company, valued at $5,114,380. This trade represents a 18.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,000 shares of company stock valued at $3,830,836. 22.80% of the stock is currently owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after acquiring an additional 31 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Madrigal Pharmaceuticals by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 40 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the last quarter. Creative Planning increased its stake in Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 87 shares in the last quarter. Finally, Verity Asset Management Inc. raised its holdings in Madrigal Pharmaceuticals by 7.4% in the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 101 shares during the last quarter. 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.