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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $350.83.

MDGL has been the topic of a number of recent analyst reports. B. Riley upped their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Oppenheimer decreased their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday. UBS Group lifted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, HC Wainwright restated a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd.

Insider Activity

In related news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fred B. Craves sold 3,600 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $3,468,410. The trade was a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,000 shares of company stock valued at $3,830,836. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd 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 in the last quarter. Quest Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 5,225.0% in the second 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. Centaurus Financial Inc. acquired a new stake in Madrigal Pharmaceuticals during the second quarter worth about $163,000. Amalgamated Bank raised its stake in shares of Madrigal Pharmaceuticals by 20.2% in the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after purchasing an additional 102 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $338.91 on Tuesday. Madrigal Pharmaceuticals has a twelve month low of $168.25 and a twelve month high of $368.29. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of -13.51 and a beta of -0.36. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $320.07 and a 200 day simple moving average of $272.50.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the firm posted ($5.34) earnings per share. Equities research analysts expect that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal year.

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.