Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $441.00 at UBS Group

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price boosted by analysts at UBS Group from $411.00 to $441.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s price objective points to a potential upside of 41.80% from the stock’s previous close.

MDGL has been the topic of a number of other research reports. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Oppenheimer lowered their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. JMP Securities increased their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $344.33.

Madrigal Pharmaceuticals Stock Up 19.9 %

MDGL traded up $51.66 during trading on Friday, reaching $311.00. The stock had a trading volume of 2,316,406 shares, compared to its average volume of 433,180. Madrigal Pharmaceuticals has a one year low of $133.99 and a one year high of $321.19. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -12.43 and a beta of -0.44. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $226.07 and its two-hundred day moving average is $242.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period last year, the firm posted ($5.34) earnings per share. As a group, analysts expect that Madrigal Pharmaceuticals will post -27.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.80% of the stock is owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Castleark Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $2,459,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $584,000. Russell Investments Group Ltd. purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at approximately $1,466,000. Sofinnova Investments Inc. lifted its position in shares of Madrigal Pharmaceuticals by 133.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock valued at $12,444,000 after buying an additional 25,388 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at $961,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

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.