Citigroup Rates Madrigal Pharmaceuticals (MDGL) Buy
Key Points
- Citigroup reiterated its Buy rating on Madrigal Pharmaceuticals on September 23, 2026, issuing a $725.00 price target.
- Citigroup's $725 price target implies 61.25% upside from Madrigal Pharmaceuticals, Inc.'s ($MDGL) current $449.61 share price.
- The stock recently traded around $449.61, sitting below Wall Street's target levels while the company heads toward its November earnings report.
- Other major firms like Wells Fargo and Barclays also hold positive stances on the biotechnology company.
Since the rating, $MDGL is down 1.8% after 1 week and down 12.3% to date (from the $513.02 close on Sep 23, 2026).
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Citigroup kept its positive stance on Madrigal Pharmaceuticals, Inc. NASDAQ: MDGL, reiterating a Buy rating and setting a $725.00 price target on September 23, 2026. Research notes from major financial institutions help investors track how Wall Street views a company's upcoming growth path and valuation.
MDGL
Madrigal Pharmaceuticals, Inc.
Citigroup's Call on Madrigal Pharmaceuticals
In its research note, Citigroup maintained a Buy rating on the biotechnology firm alongside a $725.00 price target. The forward-looking opinion signals confidence in the company's business direction.
Other Institutional Activity in Madrigal Pharmaceuticals
Large investment firms have been adjusting their holdings in the biotechnology company during recent reporting periods. Baker Bros. Advisors, LP grew its holdings by 1,499 shares, ending with 2,143,131 shares worth about $963,851,715.0. RTW Investments LP kept its stake steady at 1,993,687 shares valued at roughly $896,640,771.0 after a zero share change. Jupiter Topco LLC grew its holdings by 968,050 shares, ending with 1,936,099 shares worth about $870,741,145.0. Avoro Capital Advisors LLC grew its holdings by 15,091 shares, ending with 1,833,333 shares worth about $824,523,165.0. PAULSON & CO. INC. reduced its holdings by 52,209 shares, ending with 1,340,020 shares worth about $602,660,581.0.
Madrigal Pharmaceuticals, Inc. Stock Down 15.4%
Madrigal Pharmaceuticals recently traded around $449.61 as of October 16, 2026. That puts the share price about 38.0% below Citigroup's target of $725.00.
$MDGL price target
Madrigal Pharmaceuticals, Inc. daily closes and this analyst's $725 target. Not advice.
Recent Earnings
The company reported trailing twelve-month revenue of $1,283,939,968.0 with a revenue growth year-over-year of 71.2%. Earnings per share over the same trailing period sat at -$13.98, while the net margin was -25.3% and return on equity reached -53.3%. The next earnings release is scheduled for November 4, 2026.
Insider Buying and Selling at Madrigal Pharmaceuticals, Inc.
Company insiders have made several stock transactions over recent months. Director Richard S Levy sold 5,682 shares on May 22, 2026, for a total value of $2,928,716.0. Chief Executive Officer William John Sibold sold 2,500 shares on July 20, 2026, valued at $1,368,253.0. General Counsel Shannon T Kelley sold 664 shares at an average price of $514.97 on August 17, 2026, worth $341,940.0. Later, Chief Executive Officer William John Sibold sold 11,583 shares on September 11, 2026, totaling $6,239,198.0.
Analysts Set New Price Targets
Wall Street firms have actively updated their views on the stock through the summer and fall. On July 27, 2026, Wells Fargo initiated coverage with an Overweight rating and a $685.00 price target. Canaccord Genuity maintained a Buy rating on July 29, 2026, lifting its target from $578.00 to $587.00. Barclays maintained an Overweight rating on August 3, 2026, adjusting its target from $964.00 to $962.00. Wolfe Research upgraded the stock to Outperform on August 4, 2026, with a $605.00 price target.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. is a biopharmaceutical company headquartered in West Conshohocken, Pennsylvania. Founded in 2016, the firm focuses on developing new treatments for metabolic dysfunction-associated steatohepatitis, commonly known as MASH. Its core product is Rezdiffra, a liver-directed therapy designed to address this severe liver disease. Analyst evaluations and institutional backing remain closely tied to the commercial rollout and adoption of this flagship treatment.
Bottom Line
Citigroup's decision to keep a Buy rating adds to a largely positive backdrop of Wall Street opinion ahead of the company's November earnings report. Investors will be monitoring upcoming filing updates and sales figures for Rezdiffra to see if they align with analysts' expectations.
Related Filing Alerts
Source: Citigroup's rating change on $MDGL (Sep 23, 2026). Written by software, not financial advice. How we make alerts