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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $343.83.

A number of equities analysts have commented on MDGL shares. Wolfe Research started coverage on Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price objective for the company. Citigroup lowered their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, July 19th. B. Riley decreased their price objective on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, JMP Securities increased their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $250.81 on Friday. The company’s fifty day moving average is $272.94 and its 200 day moving average is $246.48. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98. The stock has a market cap of $5.35 billion, a PE ratio of -10.86 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. The firm’s quarterly revenue was up 146280.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.69) EPS. Research analysts anticipate that Madrigal Pharmaceuticals will post -27.54 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total value of $570,000.00. Following the completion of the transaction, the vice president now owns 5,500 shares of the company’s stock, valued at approximately $1,567,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Robert E. Waltermire sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the sale, the vice president now owns 5,500 shares in the company, valued at approximately $1,567,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert E. Waltermire sold 1,900 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,540,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,936 shares of company stock valued at $1,341,668. 23.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC boosted its position in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. Amalgamated Bank boosted its holdings in Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock worth $490,000 after acquiring an additional 57 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares during the last quarter. Dana Investment Advisors Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 4.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock valued at $734,000 after acquiring an additional 124 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Madrigal Pharmaceuticals by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock worth $631,000 after purchasing an additional 124 shares during the last quarter. Institutional investors 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.