UBS Group Increases Madrigal Pharmaceuticals (NASDAQ:MDGL) Price Target to $410.00

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target upped by research analysts at UBS Group from $337.00 to $410.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s price target points to a potential upside of 44.76% from the stock’s current price.

MDGL has been the subject of a number of other reports. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Wednesday, February 7th. Citigroup initiated coverage on Madrigal Pharmaceuticals in a research note on Wednesday, March 6th. They set a “buy” rating and a $382.00 price objective for the company. Oppenheimer upped their price objective on Madrigal Pharmaceuticals from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $155.00 to $270.00 in a research note on Friday. Finally, JMP Securities restated a “market outperform” rating and set a $347.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.40.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $12.86 during trading on Friday, reaching $283.23. The stock had a trading volume of 963,934 shares, compared to its average volume of 578,717. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $322.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. The stock has a market cap of $5.64 billion, a PE ratio of -14.20 and a beta of -0.48. The firm’s 50 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 quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter last year, the company posted ($4.98) earnings per share. On average, research analysts forecast that Madrigal Pharmaceuticals will post -21.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 223.3% during the third 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 lifted its holdings in shares of Madrigal Pharmaceuticals by 454.5% during the fourth 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. purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at $55,000. KBC Group NV purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $60,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 valued at $68,000 after purchasing an additional 228 shares during the last quarter. 79.86% of the stock is owned by hedge funds and other institutional investors.

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.