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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $685.3077.

MDGL has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. The Goldman Sachs Group restated a “buy” rating and set a $571.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, January 14th. Finally, Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price target on the stock.

Madrigal Pharmaceuticals Stock Up 1.2%

Shares of NASDAQ MDGL opened at $529.84 on Thursday. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The company has a market cap of $12.15 billion, a P/E ratio of -41.17 and a beta of -1.00. Madrigal Pharmaceuticals has a 52 week low of $265.00 and a 52 week high of $615.00. The business has a 50-day simple moving average of $465.13 and a two-hundred day simple moving average of $491.79.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($2.61). Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The company had revenue of $321.08 million for the quarter, compared to the consensus estimate of $310.36 million. During the same quarter in the prior year, the company earned ($2.71) earnings per share. The company’s quarterly revenue was up 210.8% on a year-over-year basis. Research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CFO Mardi Dier sold 1,982 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $430.87, for a total value of $853,984.34. Following the sale, the chief financial officer owned 12,490 shares of the company’s stock, valued at $5,381,566.30. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul A. Friedman sold 24,520 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $522.39, for a total value of $12,809,002.80. Following the sale, the director owned 187,164 shares of the company’s stock, valued at approximately $97,772,601.96. This trade represents a 11.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,612 shares of company stock valued at $28,326,065 over the last 90 days. Insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MDGL. Baker BROS. Advisors LP grew its stake 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 worth $982,313,000 after buying an additional 165,683 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Madrigal Pharmaceuticals by 388.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock valued at $7,012,000 after buying an additional 12,157 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 16.3% during the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after acquiring an additional 8,347 shares during the last quarter. Iron Triangle Partners LP bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth $26,776,000. Finally, Calamos Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the third quarter worth $2,057,000. 98.50% of the stock is currently owned by institutional investors.

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.