Madrigal Pharmaceuticals (NASDAQ:MDGL) Given New $350.00 Price Target at Oppenheimer

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price lowered by equities research analysts at Oppenheimer from $375.00 to $350.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target points to a potential upside of 72.42% from the company’s current price.

Several other brokerages have also weighed in on MDGL. HC Wainwright reissued a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, October 11th. Finally, Citigroup decreased their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two 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 data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $341.75.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $202.99 on Wednesday. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $229.08 and its two-hundred day moving average price is $242.74. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $299.98. The firm has a market capitalization of $4.33 billion, a P/E ratio of -8.79 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. Madrigal Pharmaceuticals’s revenue for the quarter was up 146280.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.69) earnings per share. As a group, research analysts anticipate that Madrigal Pharmaceuticals will post -27.47 EPS for the current year.

Insider Activity

In other news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction that occurred 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 directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares during the last quarter. Creative Planning raised its holdings in Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 87 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 102 shares during 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.