HC Wainwright Reaffirms Buy Rating for Madrigal Pharmaceuticals (NASDAQ:MDGL)

HC Wainwright reaffirmed their buy rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report released on Tuesday, Benzinga reports. The firm currently has a $390.00 target price on the biopharmaceutical company’s stock.

MDGL has been the topic of several other reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. JMP Securities increased their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Evercore ISI lowered 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 note on Thursday, August 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $341.75.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $210.67 on Tuesday. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $299.98. The company has a market capitalization of $4.49 billion, a PE ratio of -9.12 and a beta of -0.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. The company has a 50-day simple moving average of $228.28 and a two-hundred day simple moving average of $242.48.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analysts’ expectations of $4.25 million. The company’s revenue was up 146280.0% on a year-over-year basis. During the same period in the previous year, the company earned ($4.69) EPS. Research analysts expect that Madrigal Pharmaceuticals will post -27.47 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.92% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDGL. Signaturefd LLC boosted its stake in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 purchasing an additional 68 shares during the period. Creative Planning increased its position in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after buying an additional 87 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 98 shares during the period. Finally, Amalgamated Bank lifted its position in shares of Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds 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.