Citizens Jmp Increases Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $745.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective lifted by stock analysts at Citizens Jmp from $527.00 to $745.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “market outperform” rating on the biopharmaceutical company’s stock. Citizens Jmp’s price target indicates a potential upside of 49.91% from the stock’s previous close.

A number of other research firms have also recently issued reports on MDGL. Oppenheimer upped their price target on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Zacks Research lowered shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. TD Cowen reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. Piper Sandler boosted their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Cantor Fitzgerald raised shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $632.64.

Madrigal Pharmaceuticals Stock Down 1.6%

Shares of MDGL stock opened at $496.97 on Tuesday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of -38.20, a PEG ratio of 4.90 and a beta of -1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. The stock’s 50 day simple moving average is $560.46 and its 200 day simple moving average is $456.47. Madrigal Pharmaceuticals has a twelve month low of $265.00 and a twelve month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. As a group, research analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 16,575 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $484.30, for a total value of $8,027,272.50. Following the transaction, the director owned 2,627 shares of the company’s stock, valued at approximately $1,272,256.10. The trade was a 86.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mardi Dier sold 4,173 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the transaction, the chief financial officer owned 10,440 shares in the company, valued at approximately $6,037,869.60. This trade represents a 28.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 123,436 shares of company stock valued at $65,479,642. Insiders own 21.50% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in shares of Madrigal Pharmaceuticals by 9.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after buying an additional 338 shares during the period. Voya Investment Management LLC boosted its stake in Madrigal Pharmaceuticals by 16.3% during the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after acquiring an additional 8,347 shares during the last quarter. Marex Group plc acquired a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $548,000. Calamos Advisors LLC bought a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $2,057,000. Finally, Gladstone Institutional Advisory LLC bought a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $501,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.