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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $347.33.

A number of brokerages have commented on MDGL. UBS Group raised their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. B. Riley boosted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Oppenheimer decreased their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th.

Insiders Place Their Bets

In other news, Director Fred B. Craves sold 3,400 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. This represents a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard S. Levy sold 5,000 shares of the firm’s 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 completion of the sale, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $3,830,836. 22.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in MDGL. First Horizon Advisors Inc. increased its position in 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 purchasing an additional 98 shares during the period. Signaturefd LLC grew its position in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 39 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares during the period. Quest Partners LLC raised its stake in shares of Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares during the last quarter. Finally, Comerica Bank lifted its holdings in 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 buying an additional 320 shares during the period. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $302.47 on Friday. 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 has a one year low of $168.25 and a one year high of $368.29. The company has a fifty day moving average price of $280.39 and a 200 day moving average price of $264.25. The stock has a market cap of $6.60 billion, a P/E ratio of -12.06 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period in the prior year, the company posted ($5.34) EPS. Analysts anticipate that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current year.

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.