Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $375.75.

A number of analysts recently weighed in on MDGL shares. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright raised their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $321.32 on Wednesday. The stock’s 50 day simple moving average is $323.17 and its 200-day simple moving average is $286.30. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.09 billion, a PE ratio of -12.81 and a beta of -0.38. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. Sell-side analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Buying and Selling

In related news, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the transaction, the chief marketing officer now owns 457,310 shares in the company, valued at $125,033,127.10. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Shannon T. Kelley sold 277 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $75,734.57. Following the completion of the transaction, the general counsel now owns 7,705 shares in the company, valued at $2,106,624.05. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,787 shares of company stock worth $7,351,029 in the last 90 days. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 87 shares during the last quarter. Nisa Investment Advisors LLC lifted 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 buying an additional 68 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Madrigal Pharmaceuticals by 66.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,176 shares of the biopharmaceutical company’s stock valued at $886,000 after acquiring an additional 1,672 shares during the last quarter. Verity Asset Management Inc. grew its holdings in Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company’s stock worth $311,000 after acquiring an additional 101 shares during the period. Finally, Assetmark Inc. raised its position in shares of Madrigal Pharmaceuticals by 8.3% during the 3rd quarter. Assetmark Inc. now owns 3,942 shares of the biopharmaceutical company’s stock valued at $837,000 after acquiring an additional 303 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.