Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Lowered to $382.00 at Citigroup

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price lowered by Citigroup from $389.00 to $382.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on the company. Evercore ISI lifted their target price on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a buy rating in a report on Friday, March 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a sell rating to a neutral rating and upped their target price for the company from $155.00 to $270.00 in a research note on Friday, March 15th. HC Wainwright reduced their price target on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a buy rating for the company in a research note on Wednesday. Finally, JMP Securities decreased their price objective on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a market outperform rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of Moderate Buy and an average target price of $351.45.

Madrigal Pharmaceuticals Stock Down 0.5 %

Madrigal Pharmaceuticals stock traded down $1.12 during mid-day trading on Wednesday, reaching $206.92. The stock had a trading volume of 359,421 shares, compared to its average volume of 525,093. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $302.68. The company has a 50-day moving average price of $239.69 and a two-hundred day moving average price of $217.02. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -10.38 and a beta of -0.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the previous year, the company posted ($4.23) EPS. On average, analysts expect that Madrigal Pharmaceuticals will post -21.86 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CMO Rebecca Taub sold 27,506 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $243.36, for a total value of $6,693,860.16. Following the transaction, the chief marketing officer now directly owns 458,999 shares of the company’s stock, valued at approximately $111,701,996.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the sale, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock valued at $31,362,420 over the last quarter. 23.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 21.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after purchasing an additional 333,888 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after purchasing an additional 107,816 shares during the last quarter. Paulson & CO. Inc. lifted its position in shares of Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after buying an additional 605,741 shares in the last quarter. RTW Investments LP boosted its stake in Madrigal Pharmaceuticals by 163.4% during the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after buying an additional 505,706 shares during the last quarter. Finally, FMR LLC grew its holdings in Madrigal Pharmaceuticals by 26.2% during the 3rd quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company’s stock valued at $64,313,000 after buying an additional 91,337 shares in the last quarter. 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.