Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded at B. Riley

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by B. Riley from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also commented on MDGL. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. UBS Group raised their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright increased their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup boosted their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $360.25.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $335.74 on Thursday. The company has a market cap of $7.32 billion, a PE ratio of -13.39 and a beta of -0.38. The business has a 50 day moving average of $321.42 and a 200 day moving average of $283.69. Madrigal Pharmaceuticals has a 52 week low of $189.00 and a 52 week high of $377.46. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. As a group, equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Robert E. Waltermire sold 103 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the transaction, the vice president now directly owns 4,955 shares in the company, valued at $1,661,114.20. The trade was a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $3,468,410. This trade represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,690 shares of company stock worth $2,692,601 in the last quarter. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at about $70,000. Quest Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock valued at $123,000 after acquiring an additional 368 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $141,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $164,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.