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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $685.3077.

MDGL has been the subject of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Monday, January 12th. B. Riley Financial lifted their target price on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Bank of America cut their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a report on Friday, February 20th. UBS Group set a $900.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, December 19th. Finally, Piper Sandler lifted their target price on shares of Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a report on Friday, December 19th.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Rebecca Taub sold 18,410 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $522.40, for a total value of $9,617,384.00. Following the completion of the transaction, the director owned 455,589 shares in the company, valued at $237,999,693.60. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William John Sibold sold 1,663 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $718,316.22. Following the completion of the transaction, the chief executive officer owned 161,829 shares of the company’s stock, valued at approximately $69,900,418.26. This represents a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,612 shares of company stock worth $28,326,065 over the last quarter. Company insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank increased its holdings in Madrigal Pharmaceuticals by 32.3% in the 4th quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 21 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Madrigal Pharmaceuticals by 0.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 4,459 shares of the biopharmaceutical company’s stock worth $1,349,000 after acquiring an additional 30 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Madrigal Pharmaceuticals by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 34 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Madrigal Pharmaceuticals by 34.6% during the 4th quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 36 shares in the last quarter. Finally, Accent Capital Management LLC increased its stake in Madrigal Pharmaceuticals by 64.9% during the 4th quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $519.75 on Thursday. The stock has a 50-day simple moving average of $468.83 and a two-hundred day simple moving average of $495.34. The firm has a market capitalization of $11.92 billion, a P/E ratio of -40.38 and a beta of -1.00. Madrigal Pharmaceuticals has a fifty-two week low of $265.00 and a fifty-two week high of $615.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). The company had revenue of $321.08 million for the quarter, compared to analysts’ expectations of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. The business’s quarterly revenue was up 210.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.71) EPS. On average, equities analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

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.