Cantor Fitzgerald Reiterates Neutral Rating for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Cantor Fitzgerald reiterated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report published on Wednesday,Benzinga reports.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Citigroup cut their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. B. Riley increased their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Evercore ISI cut their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.33.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $347.45 on Wednesday. Madrigal Pharmaceuticals has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $252.37 and a 200-day moving average price of $254.38. The company has a market cap of $7.58 billion, a PE ratio of -13.85 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the company posted ($5.34) earnings per share. Equities analysts anticipate that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated Monday, September 9th. The stock was 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 of the company’s stock, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Large investors have recently modified their holdings of the company. Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after buying an additional 111,111 shares during the period. Paulson & CO. Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares in the last quarter. RTW Investments LP increased its position in shares of Madrigal Pharmaceuticals by 4.1% in the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after purchasing an additional 77,825 shares during the last quarter. Vanguard Group Inc. raised its stake in Madrigal Pharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock valued at $445,638,000 after purchasing an additional 94,064 shares in the last quarter. Finally, State Street Corp lifted its position in Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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.