Madrigal Pharmaceuticals (NASDAQ:MDGL) Now Covered by Wolfe Research

Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) in a report released on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $382.00 price target on the biopharmaceutical company’s stock. Wolfe Research’s price target would indicate a potential upside of 49.87% from the stock’s previous close.

A number of other research firms have also weighed in on MDGL. Citigroup cut their price objective on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. UBS Group increased their price target on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Bank of America initiated coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price objective for the company. Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, TD Cowen raised their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $348.17.

View Our Latest Stock Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Stock Up 4.3 %

Shares of NASDAQ:MDGL opened at $254.88 on Tuesday. The firm has a market capitalization of $5.43 billion, a PE ratio of -11.04 and a beta of -0.41. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $299.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39. The firm’s 50-day moving average is $226.68 and its two-hundred day moving average is $230.34.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the previous year, the firm earned ($4.23) EPS. Analysts predict that Madrigal Pharmaceuticals will post -27.62 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction 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 transaction, the director now directly owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total transaction of $239,668.24. Following the transaction, the vice president now owns 5,500 shares in the company, valued at approximately $1,272,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Insiders sold 170,021 shares of company stock valued at $36,389,547 over the last three months. 23.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Montag A & Associates Inc. increased its position in Madrigal Pharmaceuticals by 223.3% in the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 134 shares during the period. Global Retirement Partners LLC grew its stake in shares of Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $41,000. UMB Bank n.a. purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth approximately $53,000. Finally, BNP Paribas purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth approximately $68,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

(Get Free Report)

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.

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