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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $343.83.

MDGL has been the topic of a number of recent research reports. Wolfe Research began coverage on Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 target price on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Evercore ISI decreased their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Wednesday. Finally, Citigroup decreased their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDGL. Paulson & CO. Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 121.1% during the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after acquiring an additional 605,741 shares during the last quarter. RTW Investments LP raised its stake in Madrigal Pharmaceuticals by 163.4% in the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after purchasing an additional 505,706 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Madrigal Pharmaceuticals by 106.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock valued at $214,491,000 after purchasing an additional 414,484 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 21.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after purchasing an additional 333,888 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $75,110,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Trading Up 0.9 %

NASDAQ:MDGL opened at $208.41 on Friday. The company has a market capitalization of $4.52 billion, a P/E ratio of -9.03 and a beta of -0.44. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $299.98. The firm has a fifty day simple moving average of $242.09 and a 200-day simple moving average of $246.70.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. The business’s revenue was up 146280.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.69) EPS. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.

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.