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

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

Several research analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Oppenheimer dropped their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. UBS Group increased their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, B. Riley boosted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th.

Insiders Place Their Bets

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

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the last quarter. Quest Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in Madrigal Pharmaceuticals during the second quarter worth about $163,000. Amalgamated Bank raised its stake in Madrigal Pharmaceuticals by 20.2% during the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 102 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $320.81 on Tuesday. The firm’s 50-day moving average price is $313.75 and its 200-day moving average price is $271.00. The company has a market cap of $7.00 billion, a P/E ratio of -12.79 and a beta of -0.36. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a 52-week low of $168.25 and a 52-week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted ($5.34) earnings per share. As a group, equities analysts anticipate that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal 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.