Madrigal Pharmaceuticals (NASDAQ:MDGL) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report released on Friday morning, Marketbeat reports. The firm issued a neutral rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. StockNews.com raised Madrigal Pharmaceuticals to a sell rating in a report on Wednesday, June 5th. JMP Securities lowered their price target on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a market outperform rating on the stock in a research report on Wednesday, May 8th. Piper Sandler reissued an overweight rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. Canaccord Genuity Group raised their target price on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a buy rating in a report on Friday, March 15th. Finally, Bank of America began coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an underperform rating and a $150.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of Moderate Buy and an average price target of $348.17.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $280.16 on Friday. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of -12.13 and a beta of -0.41. The company has a 50-day simple moving average of $238.42 and a 200 day simple moving average of $236.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same period in the prior year, the company posted ($4.23) earnings per share. On average, sell-side analysts predict that Madrigal Pharmaceuticals will post -27.62 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 27,506 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $243.36, for a total transaction of $6,693,860.16. Following the completion of the transaction, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $111,701,996.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Paul A. Friedman sold 26,270 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the transaction, the director now directly owns 185,735 shares in the company, valued at approximately $45,726,099.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Rebecca Taub sold 27,506 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $243.36, for a total value of $6,693,860.16. Following the sale, the chief marketing officer now owns 458,999 shares in the company, valued at approximately $111,701,996.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,432 shares of company stock valued at $31,320,372. 23.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MDGL. Global Retirement Partners LLC raised its holdings in Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Madrigal Pharmaceuticals during the first quarter valued at $41,000. UMB Bank n.a. bought a new position in shares of Madrigal Pharmaceuticals during the first quarter valued at $53,000. BNP Paribas acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth $68,000. Finally, Comerica Bank grew its stake in shares of Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 320 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.