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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com 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 issued a report on the stock in the last year is $347.33.

A number of research analysts have weighed in on the company. Evercore ISI decreased their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup decreased their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Oppenheimer decreased their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, UBS Group raised their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $347.45 on Monday. 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 52-week low of $168.25 and a 52-week high of $368.29. The stock has a 50-day simple moving average of $252.37 and a 200 day simple moving average of $254.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) earnings per share. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals will post -24.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDGL. Castleark Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at $2,459,000. Russell Investments Group Ltd. bought a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at $1,466,000. Sofinnova Investments Inc. increased its stake in shares of Madrigal Pharmaceuticals by 133.4% in the 2nd quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock valued at $12,444,000 after purchasing an additional 25,388 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at $961,000. Finally, Fiera Capital Corp bought a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth $32,335,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.