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

Madrigal Pharmaceuticals (NASDAQ:MDGL) had its price target raised by UBS Group from $337.00 to $410.00 in a research report report published on Friday morning, Benzinga reports. UBS Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on MDGL. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a sell rating in a report on Wednesday, February 7th. Oppenheimer raised their price objective on shares of Madrigal Pharmaceuticals from $300.00 to $320.00 and gave the company an outperform rating in a research report on Friday, March 1st. Piper Sandler raised their price objective on shares of Madrigal Pharmaceuticals from $305.00 to $336.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. 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. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a sell rating to a neutral rating and raised their price objective for the company from $155.00 to $270.00 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 issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $369.40.

Madrigal Pharmaceuticals Trading Up 4.8 %

Shares of MDGL traded up $12.86 during midday trading on Friday, hitting $283.23. The stock had a trading volume of 963,934 shares, compared to its average volume of 578,717. 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 firm has a market cap of $5.64 billion, a P/E ratio of -14.20 and a beta of -0.48. The business has a 50-day simple moving average of $233.69 and a two-hundred day simple moving average of $197.62. Madrigal Pharmaceuticals has a fifty-two week low of $119.76 and a fifty-two week high of $322.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results 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 period last year, the business posted ($4.98) EPS. As a group, equities analysts forecast that Madrigal Pharmaceuticals will post -21.4 EPS for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in shares of Madrigal Pharmaceuticals by 454.5% in 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 during the last quarter. Montag A & Associates Inc. grew its stake in shares of Madrigal Pharmaceuticals by 223.3% in 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 during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $55,000. KBC Group NV acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $60,000. Finally, Osaic Holdings Inc. grew its stake in shares of Madrigal Pharmaceuticals by 30.1% in the second quarter. Osaic Holdings Inc. now owns 333 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds 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.