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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $351.67.

MDGL has been the topic of several recent research reports. HC Wainwright increased their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. B. Riley increased their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 1,584 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carole Huntsman sold 347 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $116,328.28. Following the transaction, the insider now directly owns 10,438 shares of the company’s stock, valued at $3,499,235.12. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,690 shares of company stock valued at $2,692,601. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in Madrigal Pharmaceuticals by 47.6% during 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. Kohmann Bosshard Financial Services LLC bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $70,000. Quest Partners LLC lifted its position in Madrigal Pharmaceuticals by 172.8% during the third quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 368 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $164,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Stock Down 3.9 %

MDGL opened at $309.49 on Wednesday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a 1-year low of $189.00 and a 1-year high of $368.29. The company has a market capitalization of $6.75 billion, a PE ratio of -12.34 and a beta of -0.38. The firm’s 50 day simple moving average is $320.09 and its two-hundred day simple moving average is $282.67.

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.