Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $624.08 Average PT from Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $624.0833.

A number of brokerages have recently issued reports on MDGL. Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. UBS Group set a $900.00 price target on Madrigal Pharmaceuticals in a research note on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 8th. Piper Sandler lifted their price objective on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, HC Wainwright boosted their target price on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, November 21st.

Madrigal Pharmaceuticals Trading Up 0.2%

NASDAQ:MDGL opened at $603.56 on Tuesday. Madrigal Pharmaceuticals has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.26 and a current ratio of 3.44. The firm’s fifty day moving average is $525.68 and its 200-day moving average is $421.99. The firm has a market cap of $13.71 billion, a P/E ratio of -46.39 and a beta of -1.04.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Activity

In other news, Director Richard S. Levy sold 8,500 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $520.96, for a total transaction of $4,428,160.00. Following the transaction, the director owned 21,197 shares of the company’s stock, valued at $11,042,789.12. This represents a 28.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Bate sold 16,575 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $484.30, for a total value of $8,027,272.50. Following the completion of the sale, the director directly owned 2,627 shares of the company’s stock, valued at $1,272,256.10. The trade was a 86.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 77,056 shares of company stock valued at $41,324,312. Corporate insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently modified their holdings of MDGL. AlphaQuest LLC boosted its holdings in Madrigal Pharmaceuticals by 412.5% during the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Mather Group LLC. bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $33,000. Global Retirement Partners LLC boosted its stake in shares of Madrigal Pharmaceuticals by 221.7% in the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 51 shares during the last quarter. First Horizon Corp bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $34,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $39,000. 98.50% of the stock is currently owned by institutional investors.

About Madrigal Pharmaceuticals

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.