Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $347.33.

MDGL has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Finally, Oppenheimer cut their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd.

Madrigal Pharmaceuticals Stock Up 5.5 %

Shares of Madrigal Pharmaceuticals stock opened at $347.45 on Monday. The company has a fifty day moving average price of $250.25 and a 200 day moving average price of $253.60. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a twelve month low of $168.25 and a twelve month high of $368.29. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of -13.08 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) EPS. Equities research analysts forecast that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $41,000. Signaturefd LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 98.50% 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.