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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $528.4167.

A number of equities research analysts have recently weighed in on the company. UBS Group reiterated a “buy” rating and issued a $523.00 price objective (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Citigroup reiterated an “outperform” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Bank of America raised shares of Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $266.00 to $445.00 in a research report on Monday, November 3rd. Finally, Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 43,263 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $355.69, for a total transaction of $15,388,216.47. Following the completion of the transaction, the director owned 461,044 shares of the company’s stock, valued at approximately $163,988,740.36. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul A. Friedman sold 129,172 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the sale, the director owned 187,164 shares in the company, valued at approximately $69,295,599.36. This trade represents a 40.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 165,683 shares of company stock worth $61,921,142 and have sold 258,814 shares worth $97,172,693. Insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Beirne Wealth Consulting Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter worth approximately $233,000. GSA Capital Partners LLP purchased a new position in Madrigal Pharmaceuticals during the third quarter valued at $798,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Madrigal Pharmaceuticals by 361.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 18,363 shares of the biopharmaceutical company’s stock worth $8,435,000 after acquiring an additional 14,385 shares in the last quarter. Assetmark Inc. boosted its holdings in Madrigal Pharmaceuticals by 3.3% in the third quarter. Assetmark Inc. now owns 5,058 shares of the biopharmaceutical company’s stock worth $2,320,000 after acquiring an additional 160 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Madrigal Pharmaceuticals by 3.4% in the third quarter. Rhumbline Advisers now owns 27,263 shares of the biopharmaceutical company’s stock worth $12,504,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Up 0.1%

Shares of MDGL opened at $489.26 on Monday. The stock has a market capitalization of $11.11 billion, a P/E ratio of -38.07 and a beta of -1.04. Madrigal Pharmaceuticals has a twelve month low of $265.00 and a twelve month high of $496.98. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $437.14 and a two-hundred day simple moving average of $358.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The firm had revenue of $287.27 million for the quarter, compared to the consensus estimate of $244.33 million. On average, research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

About Madrigal Pharmaceuticals

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.