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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $375.75.

A number of equities research analysts have weighed in on MDGL shares. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $236.00 to $422.00 in a report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th.

Madrigal Pharmaceuticals Trading Up 1.6 %

Shares of NASDAQ MDGL opened at $341.27 on Wednesday. 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 fifty day simple moving average of $322.93 and a two-hundred day simple moving average of $285.02. The firm has a market cap of $7.44 billion, a PE ratio of -13.61 and a beta of -0.38. Madrigal Pharmaceuticals has a twelve month low of $189.00 and a twelve month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. Analysts expect that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the sale, the chief executive officer now owns 54,303 shares in the company, valued at approximately $18,204,537.72. The trade was a 2.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the sale, the vice president now owns 5,058 shares in the company, valued at approximately $1,382,907.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,160 shares of company stock worth $8,067,652 in the last ninety days. 22.80% of the stock is owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at about $70,000. Quest Partners LLC grew its stake in Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 368 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at about $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at about $164,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.