Madrigal Pharmaceuticals’ (MDGL) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research note released on Wednesday,Benzinga reports.

Other analysts have also recently issued reports about the company. B. Riley upped their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. 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. Evercore ISI cut their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Finally, Oppenheimer dropped their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Stock Up 5.5 %

MDGL stock opened at $347.45 on Wednesday. The stock has a market cap of $7.58 billion, a P/E ratio of -13.08 and a beta of -0.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a twelve month low of $168.25 and a twelve month high of $368.29. The company’s 50 day moving average is $250.25 and its two-hundred day moving average is $253.60.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period last year, the firm earned ($5.34) earnings per share. Research analysts expect that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of MDGL. Avoro Capital Advisors LLC boosted its position in 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. Paulson & CO. Inc. increased its holdings in Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after acquiring an additional 192,000 shares in the last quarter. RTW Investments LP raised its position in Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock valued at $445,638,000 after purchasing an additional 94,064 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.