Madrigal Pharmaceuticals (NASDAQ:MDGL) Now Covered by Barclays

Analysts at Barclays assumed coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $964.00 price target on the biopharmaceutical company’s stock. Barclays‘s price target suggests a potential upside of 94.14% from the company’s current price.

Several other equities research analysts have also issued reports on MDGL. Truist Financial boosted their price target on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. The Goldman Sachs Group reissued a “buy” rating and issued a $571.00 target price on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. Oppenheimer increased their price target on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Cantor Fitzgerald raised Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th. Finally, TD Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $654.73.

Madrigal Pharmaceuticals Stock Down 0.8%

MDGL stock opened at $496.54 on Tuesday. Madrigal Pharmaceuticals has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The company has a market cap of $11.28 billion, a PE ratio of -38.17, a price-to-earnings-growth ratio of 4.94 and a beta of -1.00. The business’s 50-day simple moving average is $555.71 and its 200 day simple moving average is $463.17.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results 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 39.04% and a negative return on equity of 41.50%. On average, research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 8,500 shares of Madrigal Pharmaceuticals stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $520.96, for a total value of $4,428,160.00. Following the completion of the transaction, the director directly owned 21,197 shares of the company’s stock, valued at $11,042,789.12. The trade was a 28.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth Bate sold 16,575 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $484.30, for a total transaction of $8,027,272.50. Following the sale, the director directly owned 2,627 shares in the company, valued at approximately $1,272,256.10. This represents a 86.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 126,570 shares of company stock worth $67,024,124. 21.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently modified their holdings of MDGL. Flagship Harbor Advisors LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $36,000. Mather Group LLC. acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $33,000. Global Retirement Partners LLC raised its position in shares of Madrigal Pharmaceuticals by 221.7% during the third quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 51 shares during the last quarter. Finally, First Horizon Corp acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $34,000. 98.50% of the stock is 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.