Madrigal Pharmaceuticals (NASDAQ:MDGL) Hits New 52-Week High on Analyst Upgrade

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shares reached a new 52-week high during mid-day trading on Monday after HC Wainwright raised their price target on the stock from $568.00 to $620.00. HC Wainwright currently has a buy rating on the stock. Madrigal Pharmaceuticals traded as high as $579.99 and last traded at $576.6450, with a volume of 458462 shares changing hands. The stock had previously closed at $547.96.

Several other research analysts have also weighed in on the company. TD Cowen upped their price target on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and upped their target price for the company from $266.00 to $445.00 in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 8th. Finally, B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $553.50.

Insider Transactions at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 1,958 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $553.11, for a total value of $1,082,989.38. Following the transaction, the insider owned 10,032 shares in the company, valued at approximately $5,548,799.52. This represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William John Sibold sold 7,279 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the completion of the sale, the chief executive officer owned 102,474 shares of the company’s stock, valued at $45,665,488.62. This trade represents a 6.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,312 shares of company stock valued at $16,782,163 over the last 90 days. Company insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its holdings in Madrigal Pharmaceuticals by 59.1% in the first quarter. Allianz Asset Management GmbH now owns 1,556 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 578 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Madrigal Pharmaceuticals during the first quarter valued at about $652,000. Assetmark Inc. lifted its position in shares of Madrigal Pharmaceuticals by 24.0% in the first quarter. Assetmark Inc. now owns 5,183 shares of the biopharmaceutical company’s stock worth $1,717,000 after buying an additional 1,003 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Madrigal Pharmaceuticals by 490.5% during the 1st quarter. LPL Financial LLC now owns 30,822 shares of the biopharmaceutical company’s stock worth $10,209,000 after acquiring an additional 25,602 shares in the last quarter. Finally, Carrera Capital Advisors increased its holdings in shares of Madrigal Pharmaceuticals by 15.6% during the 1st quarter. Carrera Capital Advisors now owns 3,749 shares of the biopharmaceutical company’s stock valued at $1,242,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

The stock has a fifty day moving average price of $456.96 and a 200 day moving average price of $373.72. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of -45.49 and a beta of -1.04.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

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.