Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $390.00 at TD Cowen

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its target price increased by TD Cowen from $349.00 to $390.00 in a report published on Friday morning, Benzinga reports. TD Cowen currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on the company. JMP Securities reiterated a market outperform rating and issued a $347.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, February 23rd. Oppenheimer lifted their target price on Madrigal Pharmaceuticals from $300.00 to $320.00 and gave the stock an outperform rating in a report on Friday, March 1st. B. Riley upgraded Madrigal Pharmaceuticals from a sell rating to a neutral rating and lifted their target price for the stock from $155.00 to $270.00 in a report on Friday. UBS Group lifted their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a buy rating in a report on Friday. Finally, Piper Sandler lifted their target price on Madrigal Pharmaceuticals from $305.00 to $336.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of Moderate Buy and an average price target of $369.40.

Madrigal Pharmaceuticals Trading Up 4.8 %

Shares of MDGL stock traded up $12.86 during mid-day trading on Friday, reaching $283.23. 963,934 shares of the stock traded hands, compared to its average volume of 578,717. The stock’s fifty day simple moving average is $233.69 and its two-hundred day simple moving average is $197.62. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market cap of $5.64 billion, a price-to-earnings ratio of -14.20 and a beta of -0.48. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $322.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the prior year, the business earned ($4.98) earnings per share. On average, research analysts anticipate that Madrigal Pharmaceuticals will post -21.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of MDGL. Paulson & CO. Inc. grew its holdings in Madrigal Pharmaceuticals by 121.1% during the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after buying an additional 605,741 shares in the last quarter. RTW Investments LP grew its holdings in Madrigal Pharmaceuticals by 163.4% during the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after buying an additional 505,706 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Madrigal Pharmaceuticals by 1,468.0% during the second quarter. Alliancebernstein L.P. now owns 371,116 shares of the biopharmaceutical company’s stock worth $85,728,000 after buying an additional 347,448 shares in the last quarter. Federated Hermes Inc. bought a new stake in Madrigal Pharmaceuticals during the first quarter worth $33,616,000. Finally, Avoro Capital Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 21.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after buying an additional 333,888 shares in the last quarter. Institutional investors own 79.86% of the company’s stock.

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.