Analysts Set Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Target Price at $351.67

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $351.67.

A number of analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $332.72 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock’s 50-day simple moving average is $314.39 and its two-hundred day simple moving average is $277.02. Madrigal Pharmaceuticals has a twelve month low of $168.25 and a twelve month high of $368.29.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the transaction, the chief executive officer now owns 54,303 shares in the company, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. The trade was a 24.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,090 shares of company stock worth $3,883,621. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 2.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 31 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 40 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 5.2% in the 4th quarter. Sanctuary Advisors LLC now owns 1,247 shares of the biopharmaceutical company’s stock worth $422,000 after purchasing an additional 62 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares during the last quarter. Finally, Creative Planning increased its position in Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after buying an additional 87 shares in the last quarter. Hedge funds and other 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.