Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives $687.93 Consensus PT from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $687.9286.

A number of analysts recently issued reports on MDGL shares. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, May 7th. Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. Canaccord Genuity Group lowered their target price on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st.

Insider Buying and Selling

In other news, Director Richard S. Levy sold 5,682 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This represents a 20.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,568 shares of company stock worth $3,880,711 in the last quarter. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Eastern Bank lifted its holdings in shares of Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 21 shares during the period. Centaurus Financial Inc. increased its stake in Madrigal Pharmaceuticals by 5.0% in the 3rd quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 34 shares during the period. Farther Finance Advisors LLC raised its position 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 during the last quarter. Accent Capital Management LLC raised its position 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 during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its stake in shares of Madrigal Pharmaceuticals by 6.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 44 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Trading Up 1.5%

Shares of NASDAQ:MDGL opened at $553.48 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. Madrigal Pharmaceuticals has a 12-month low of $286.44 and a 12-month high of $615.00. The business has a 50 day moving average of $513.74 and a two-hundred day moving average of $501.87. The company has a market capitalization of $12.76 billion, a PE ratio of -43.24 and a beta of -1.05.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. The business had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The business’s revenue was up 126.8% on a year-over-year basis. During the same quarter last year, the company earned ($3.32) EPS. As a group, analysts forecast that Madrigal Pharmaceuticals will post -7.3 EPS for the current year.

Madrigal Pharmaceuticals Company Profile

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.