JMP Securities Reaffirms Market Outperform Rating for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Madrigal Pharmaceuticals (NASDAQ:MDGL)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a note issued to investors on Friday,Benzinga reports. They presently have a $427.00 price target on the biopharmaceutical company’s stock. JMP Securities’ price objective points to a potential upside of 25.99% from the company’s previous close.

MDGL has been the subject of a number of other research reports. Oppenheimer reduced their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. 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 raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, B. Riley raised their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $350.83.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $338.91 on Friday. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of -13.51 and a beta of -0.36. 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 1 year low of $168.25 and a 1 year high of $368.29. The firm’s 50-day moving average is $320.07 and its 200 day moving average is $272.50.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results 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 firm had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the company earned ($5.34) EPS. Sell-side analysts anticipate that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares in the company, valued at $5,114,380. The trade was a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock valued at $3,830,836 in the last ninety days. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted 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 worth $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC increased its holdings in Madrigal Pharmaceuticals by 5,225.0% in 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. purchased a new stake in Madrigal Pharmaceuticals in the 2nd quarter worth $163,000. Amalgamated Bank boosted its holdings in shares of Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 102 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the second quarter valued at about $204,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.