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

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price objective increased by equities research analysts at TD Cowen from $349.00 to $390.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective would suggest a potential upside of 37.70% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Citigroup began coverage on Madrigal Pharmaceuticals in a research report on Wednesday, March 6th. They issued a “buy” rating and a $382.00 target price on the stock. Oppenheimer upped their target price on Madrigal Pharmaceuticals from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their target price for the company from $155.00 to $270.00 in a research report on Friday. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research report on Wednesday, February 7th. Finally, UBS Group upped their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $369.40.

Madrigal Pharmaceuticals Stock Up 4.8 %

Shares of MDGL stock 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. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $322.67. The stock has a market cap of $5.64 billion, a PE ratio of -14.20 and a beta of -0.48. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is $233.69 and its two-hundred day moving average price is $197.62.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its 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 quarter in the previous year, the firm posted ($4.98) earnings per share. Research analysts predict that Madrigal Pharmaceuticals will post -21.4 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MDGL. Montag A & Associates Inc. raised its stake in Madrigal Pharmaceuticals by 223.3% in the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 134 shares during the last quarter. Global Retirement Partners LLC raised its stake in Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Madrigal Pharmaceuticals in the 1st quarter valued at $55,000. KBC Group NV acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at $60,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Madrigal Pharmaceuticals by 95.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 228 shares during 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.