Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target Raised to $377.00 at Canaccord Genuity Group

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective raised by Canaccord Genuity Group from $338.00 to $377.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

MDGL has been the topic of a number of other reports. B. Riley upgraded Madrigal Pharmaceuticals from a sell rating to a neutral rating and increased their price target for the stock from $155.00 to $270.00 in a research report on Friday. UBS Group lifted their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a buy rating in a research note on Friday. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an outperform rating in a research note on Friday. TD Cowen lifted their target price on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an outperform rating in a research note on Friday. Finally, Citigroup lifted their target price on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a buy rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $369.40.

Madrigal Pharmaceuticals Price Performance

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

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results 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 last year, the company posted ($4.98) earnings per share. On average, equities research analysts predict that Madrigal Pharmaceuticals will post -21.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Montag A & Associates Inc. lifted its holdings in Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 134 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Madrigal Pharmaceuticals during the first quarter worth about $55,000. KBC Group NV bought a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $60,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Madrigal Pharmaceuticals by 95.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 228 shares in the last quarter. 79.86% of the stock is owned by institutional investors and hedge funds.

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.