Citigroup Raises Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $389.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective lifted by Citigroup from $382.00 to $389.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the stock. JMP Securities reaffirmed a market outperform rating and set a $347.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, February 23rd. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a buy rating in a research report on Friday. TD Cowen increased their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an outperform rating in a report on Friday. B. Riley raised shares of Madrigal Pharmaceuticals from a sell rating to a neutral rating and increased their target price for the stock from $155.00 to $270.00 in a report on Friday. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a sell rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus target price of $369.40.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL traded up $12.86 on Friday, hitting $283.23. 963,934 shares of the stock were exchanged, compared to its average volume of 578,717. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The business’s fifty day moving average is $233.69 and its 200 day moving average is $197.62. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $322.67. The company has a market capitalization of $5.64 billion, a PE ratio of -14.20 and a beta of -0.48.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same quarter in the previous year, the business posted ($4.98) EPS. Research analysts anticipate that Madrigal Pharmaceuticals will post -21.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. grew its holdings in Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 134 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Madrigal Pharmaceuticals during the 1st quarter valued at about $55,000. KBC Group NV purchased a new position in Madrigal Pharmaceuticals during the 4th quarter valued at about $60,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Madrigal Pharmaceuticals by 95.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 79.86% 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.