Madrigal Pharmaceuticals (NASDAQ:MDGL) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report published on Friday, Marketbeat.com reports. The firm issued a neutral rating on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on MDGL. HC Wainwright cut their price objective on Madrigal Pharmaceuticals from $425.00 to $390.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Bank of America began coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an underperform rating and a $150.00 price objective for the company. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. TD Cowen lifted their price target on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Finally, Oppenheimer increased their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an outperform rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $348.17.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $280.16 on Friday. The business’s fifty day moving average price is $238.42 and its 200 day moving average price is $236.63. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period last year, the business earned ($4.23) EPS. On average, equities research analysts expect that Madrigal Pharmaceuticals will post -27.62 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the transaction, the vice president now owns 5,500 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total value of $570,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,567,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $280.00, for a total value of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,921 shares of company stock worth $37,491,547. Corporate insiders own 23.92% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth approximately $281,000. Artal Group S.A. purchased a new position in Madrigal Pharmaceuticals during the 1st quarter worth $29,510,000. Rokos Capital Management LLP acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter worth $10,064,000. Comerica Bank boosted its holdings in shares of Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $2,459,000. 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.