Cantor Fitzgerald reissued their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL – Free Report) in a research report released on Friday, Benzinga reports.
MDGL has been the subject of a number of other reports. Evercore ISI dropped their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating for the company in a report on Thursday, August 8th. Citigroup dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating for the company in a research report on Thursday, August 8th. 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 note on Tuesday, July 16th. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a sell rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $343.83.
Read Our Latest Report on MDGL
Madrigal Pharmaceuticals Stock Performance
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. The company’s revenue was up 146280.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.69) EPS. On average, equities analysts forecast that Madrigal Pharmaceuticals will post -27.67 EPS for the current year.
Insider Buying and Selling
In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.80% of the company’s stock.
Institutional Investors Weigh In On Madrigal Pharmaceuticals
Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Madrigal Pharmaceuticals by 106.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock worth $214,491,000 after acquiring an additional 414,484 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $32,335,000. Avoro Capital Advisors LLC lifted its position in shares of 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 worth $575,884,000 after purchasing an additional 111,111 shares in the last quarter. Artal Group S.A. purchased a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $29,510,000. Finally, Rheos Capital Works Inc. purchased a new stake in Madrigal Pharmaceuticals during the 1st quarter worth $29,432,000. Institutional investors and hedge funds 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.
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