UBS Group Forecasts Strong Price Appreciation for Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective boosted by UBS Group from $411.00 to $441.00 in a research note issued to investors on Friday morning, Benzinga reports. UBS Group currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently commented on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Evercore ISI reduced their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Oppenheimer reduced their price objective 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. Finally, Citigroup reduced their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $344.33.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $60.24 during midday trading on Friday, hitting $319.58. The stock had a trading volume of 3,056,529 shares, compared to its average volume of 347,443. The stock has a 50 day simple moving average of $227.40 and a 200-day simple moving average of $242.64. Madrigal Pharmaceuticals has a 1 year low of $133.99 and a 1 year high of $321.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results 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 firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter last year, the business earned ($5.34) EPS. On average, equities research analysts predict that Madrigal Pharmaceuticals will post -27.27 EPS for the current fiscal year.

Insider Activity

In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Signaturefd LLC grew its stake in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at $41,000. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.