Madrigal Pharmaceuticals’ (MDGL) Neutral Rating Reaffirmed at Cantor Fitzgerald

Madrigal Pharmaceuticals (NASDAQ:MDGL)‘s stock had its “neutral” rating restated by investment analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports.

Other analysts also recently issued research reports about the stock. JMP Securities boosted their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Citigroup cut their price objective 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. Evercore ISI cut their price objective 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. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.83.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $214.15 on Friday. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of -9.27 and a beta of -0.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. The company has a 50-day simple moving average of $235.57 and a 200 day simple moving average of $245.39. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $4.25 million. The business’s quarterly revenue was up 146280.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.69) EPS. On average, sell-side analysts predict that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its position in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the period. Creative Planning increased its position in 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 acquiring an additional 87 shares during the period. First Horizon Advisors Inc. increased its position in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the period. Amalgamated Bank increased its position in Madrigal Pharmaceuticals by 20.2% in the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after acquiring an additional 102 shares during the period. Finally, Victory Capital Management Inc. increased its position in Madrigal Pharmaceuticals by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock valued at $631,000 after acquiring an additional 124 shares during the period. 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.