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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $378.44.

A number of research firms have recently commented on MDGL. Citigroup raised their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price target for the company from $236.00 to $422.00 in a report on Thursday, February 27th. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 1,584 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $531,020.16. Following the transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This represents a 2.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the transaction, the vice president now directly owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Large investors have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at approximately $70,000. GF Fund Management CO. LTD. acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $141,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth $164,000. Quest Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 172.8% in the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after purchasing an additional 368 shares during the period. Finally, KBC Group NV increased its stake in Madrigal Pharmaceuticals by 73.5% during the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $337.27 on Friday. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm has a 50 day moving average price of $332.24 and a 200 day moving average price of $296.08. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -13.45 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million. Sell-side analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

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.