Madrigal Pharmaceuticals (NASDAQ:MDGL) Sets New 1-Year High on Analyst Upgrade

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s stock price reached a new 52-week high on Monday after UBS Group raised their price target on the stock from $411.00 to $441.00. UBS Group currently has a buy rating on the stock. Madrigal Pharmaceuticals traded as high as $324.00 and last traded at $322.63, with a volume of 124277 shares. The stock had previously closed at $319.58.

MDGL has been the subject of several other reports. Oppenheimer dropped their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Finally, Evercore ISI cut their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $344.33.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on Monday, September 9th. The shares were 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 of the company’s stock, valued at $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently modified their holdings of MDGL. First Horizon Advisors Inc. boosted its position in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the last quarter. Signaturefd LLC boosted its position in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at $41,000. Nisa Investment Advisors LLC boosted its position in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Finally, Quest Partners LLC boosted its position in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 1.0 %

The stock’s 50-day simple moving average is $227.40 and its 200 day simple moving average is $242.80. The firm has a market cap of $7.00 billion, a P/E ratio of -12.74 and a beta of -0.46. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data 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 analyst estimates of $34.60 million. During the same quarter in the prior year, the company posted ($5.34) EPS. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -27.27 EPS for the current fiscal year.

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.