Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $343.83.

MDGL has been the subject of a number of recent analyst reports. Evercore ISI lowered their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. HC Wainwright lowered their target price on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. B. Riley decreased their price target on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Wolfe Research began coverage on Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price objective on the stock.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $250.81 on Friday. The firm’s 50 day moving average price is $272.94 and its two-hundred day moving average price is $246.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $299.98. The stock has a market cap of $5.35 billion, a PE ratio of -10.86 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. During the same period last year, the firm earned ($4.69) earnings per share. The firm’s revenue for the quarter was up 146280.0% on a year-over-year basis. As a group, analysts forecast that Madrigal Pharmaceuticals will post -27.54 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,540,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total value of $239,668.24. Following the completion of the transaction, the vice president now owns 5,500 shares in the company, valued at approximately $1,272,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $280.00, for a total value of $532,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,936 shares of company stock worth $1,341,668. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 98 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter worth $41,000. Signaturefd LLC lifted its stake in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the last quarter. UMB Bank n.a. acquired a new stake in Madrigal Pharmaceuticals in the first quarter valued at $53,000. Finally, Quest Partners LLC grew its position in shares of Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 209 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.