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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $617.0714.

A number of equities analysts have commented on the company. Piper Sandler increased their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $266.00 to $445.00 in a research report on Monday, November 3rd. Citizens Jmp increased their price objective on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group restated a “buy” rating and issued a $571.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday. Finally, Oppenheimer upped their target price on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th.

Insider Activity

In related news, Director Paul A. Friedman sold 24,800 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $552.18, for a total transaction of $13,694,064.00. Following the completion of the sale, the director owned 187,164 shares of the company’s stock, valued at approximately $103,348,217.52. This represents a 11.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mardi Dier sold 4,173 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $578.34, for a total transaction of $2,413,412.82. Following the completion of the sale, the chief financial officer owned 10,440 shares of the company’s stock, valued at approximately $6,037,869.60. The trade was a 28.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 120,506 shares of company stock valued at $64,037,125 in the last ninety days. 21.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP grew its holdings in Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock valued at $982,313,000 after buying an additional 165,683 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Madrigal Pharmaceuticals by 17.6% during the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock valued at $188,877,000 after acquiring an additional 61,513 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock valued at $185,507,000 after purchasing an additional 397,076 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after purchasing an additional 184,554 shares during the period. Finally, Invesco Ltd. increased its position in Madrigal Pharmaceuticals by 49.5% during the third quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock worth $137,398,000 after purchasing an additional 99,209 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 1.2%

Shares of NASDAQ MDGL opened at $501.68 on Friday. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of -38.56, a price-to-earnings-growth ratio of 3.44 and a beta of -1.00. The company’s 50-day simple moving average is $561.72 and its 200-day simple moving average is $451.17. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. Madrigal Pharmaceuticals has a 52-week low of $265.00 and a 52-week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 39.04% and a negative return on equity of 41.50%. Equities analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.