Madrigal Pharmaceuticals (NASDAQ:MDGL) Trading 4.1% Higher – Time to Buy?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s share price shot up 4.1% on Tuesday . The stock traded as high as $316.75 and last traded at $316.01. 62,052 shares traded hands during trading, a decline of 86% from the average session volume of 442,812 shares. The stock had previously closed at $303.49.

Analyst Upgrades and Downgrades

MDGL has been the subject of several research reports. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. HC Wainwright reiterated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. Oppenheimer decreased their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup dropped their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Up 0.9 %

The company has a market cap of $6.92 billion, a P/E ratio of -12.64 and a beta of -0.46. The company’s 50-day moving average is $246.71 and its two-hundred day moving average is $252.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Castleark Management LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at about $2,459,000. Russell Investments Group Ltd. purchased a new position in Madrigal Pharmaceuticals during the first quarter valued at approximately $1,466,000. Sofinnova Investments Inc. boosted its position in shares of Madrigal Pharmaceuticals by 133.4% in the second quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company’s stock worth $12,444,000 after purchasing an additional 25,388 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $961,000. Finally, Fiera Capital Corp purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth $32,335,000. 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.