Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $356.73.

A number of equities analysts recently issued reports on MDGL shares. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a report on Friday, March 15th. Canaccord Genuity Group increased their target price on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $155.00 to $270.00 in a research note on Friday, March 15th. Piper Sandler restated an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Finally, Oppenheimer lifted their target price on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $210.59 on Thursday. The stock has a market cap of $4.19 billion, a P/E ratio of -10.56 and a beta of -0.47. The company has a fifty day simple moving average of $241.78 and a 200-day simple moving average of $214.03. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $314.79.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the prior year, the firm earned ($4.98) earnings per share. Equities analysts expect that Madrigal Pharmaceuticals will post -21.86 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 26,270 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the transaction, the director now directly owns 185,735 shares of the company’s stock, valued at approximately $45,726,099.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $246.19, for a total value of $6,467,411.30. Following the sale, the director now owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,496 shares of company stock valued at $31,362,420. 23.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its stake in shares of Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Montag A & Associates Inc. boosted its stake in Madrigal Pharmaceuticals by 223.3% in the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $53,000. Allspring Global Investments Holdings LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter worth approximately $102,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Madrigal Pharmaceuticals by 95.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.