Madrigal Pharmaceuticals (NASDAQ:MDGL) Receives “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report issued on Wednesday,Benzinga reports.

Other equities research analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. UBS Group raised their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI lowered their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Citigroup cut their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $347.33.

Madrigal Pharmaceuticals Stock Up 5.5 %

Shares of MDGL opened at $347.45 on Wednesday. The firm has a 50 day simple moving average of $252.37 and a two-hundred day simple moving average of $254.38. 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 market cap of $7.58 billion, a P/E ratio of -13.85 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period last year, the firm posted ($5.34) EPS. Research analysts forecast that Madrigal Pharmaceuticals will post -24.08 EPS for the current fiscal year.

Insider Activity

In other news, 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 owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its position in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. EntryPoint Capital LLC bought a new position in Madrigal Pharmaceuticals in the first quarter worth approximately $41,000. Signaturefd LLC grew its stake in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of 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 acquiring an additional 68 shares in the last quarter. Finally, Quest Partners LLC raised its position 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 purchasing an additional 209 shares during the period. 98.50% of the stock is currently 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.