Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Rating)’s stock price traded up 4.1% during mid-day trading on Tuesday . The stock traded as high as $298.79 and last traded at $297.23. 22,893 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 389,746 shares. The stock had previously closed at $285.49.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. StockNews.com lowered Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $296.00 to $336.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. Finally, Oppenheimer upped their target price on Madrigal Pharmaceuticals from $300.00 to $350.00 in a research report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $312.36.
Madrigal Pharmaceuticals Stock Performance
The stock has a fifty day simple moving average of $270.03 and a two-hundred day simple moving average of $231.80. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of -16.15 and a beta of -0.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.37 and a current ratio of 3.37.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC lifted its stake in shares of Madrigal Pharmaceuticals by 307.4% in the 1st quarter. Bradley & Co. Private Wealth Management LLC now owns 110 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 83 shares during the last quarter. Garda Capital Partners LP bought a new position in Madrigal Pharmaceuticals during the 1st quarter worth $34,000. Russell Investments Group Ltd. bought a new position in Madrigal Pharmaceuticals during the 1st quarter worth $55,000. Nisa Investment Advisors LLC raised its position in Madrigal Pharmaceuticals by 145.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 236 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 140 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Madrigal Pharmaceuticals by 41.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 246 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 72 shares during the last quarter. 67.98% of the stock is currently owned by institutional investors.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.
Featured Articles
- Get a free copy of the StockNews.com research report on Madrigal Pharmaceuticals (MDGL)
- Toll Brothers Rises On Results, But The Roof Is In Place
- It’s Time To Try On VF Corporation’s 6% Yield
- PetCo Management Getting it Right? Earnings Beat Says Yes
- Axcelis Stock In Buy Range After Chart Breakout, Strong Guidance
- Kohl’s 10% Yield Comes Into High Fashion
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
