Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $420.63 Average Target Price from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $420.63.

Several research firms have commented on MDGL. Canaccord Genuity Group increased their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. B. Riley reissued a “buy” rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Wall Street Zen upgraded Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. JMP Securities reiterated a “market outperform” rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Finally, UBS Group raised their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a “buy” rating in a report on Friday, May 2nd.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of Madrigal Pharmaceuticals by 7.9% in the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock worth $8,733,000 after acquiring an additional 1,924 shares during the last quarter. Strs Ohio acquired a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $629,000. Intech Investment Management LLC boosted its holdings in Madrigal Pharmaceuticals by 21.0% in the 1st quarter. Intech Investment Management LLC now owns 9,784 shares of the biopharmaceutical company’s stock valued at $3,241,000 after purchasing an additional 1,696 shares during the last quarter. Woodline Partners LP grew its stake in shares of Madrigal Pharmaceuticals by 2.7% in the 1st quarter. Woodline Partners LP now owns 317,433 shares of the biopharmaceutical company’s stock valued at $105,143,000 after buying an additional 8,316 shares during the period. Finally, Cutter Capital Management LP acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth $7,950,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $298.49 on Tuesday. The company has a market capitalization of $6.63 billion, a P/E ratio of -16.54 and a beta of -1.05. Madrigal Pharmaceuticals has a 1-year low of $200.63 and a 1-year high of $377.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58. The business has a 50-day moving average price of $291.84 and a 200 day moving average price of $311.81.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, topping the consensus estimate of ($3.62) by $0.30. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. The firm had revenue of $137.25 million during the quarter, compared to analyst estimates of $112.79 million. During the same period in the previous year, the company posted ($7.38) EPS. As a group, equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS 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.