Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $500.00 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on the company. TD Cowen lifted their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 26th. JMP Securities increased their price objective on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 20th. Finally, UBS Group reissued a “buy” rating and issued a $523.00 target price (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $471.13.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $432.89 on Thursday. The stock has a market capitalization of $9.61 billion, a P/E ratio of -33.69 and a beta of -1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. Madrigal Pharmaceuticals has a 1 year low of $200.63 and a 1 year high of $443.00. The company’s fifty day moving average is $350.02 and its two-hundred day moving average is $323.03.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $158.94 million. During the same quarter last year, the business earned ($7.10) EPS. The business’s revenue was up 1357.5% on a year-over-year basis. On average, sell-side analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Bros. Advisors Lp Baker acquired 59,901 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $385.16 per share, for a total transaction of $23,071,469.16. Following the transaction, the director directly owned 1,947,968 shares of the company’s stock, valued at approximately $750,279,354.88. This represents a 3.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Shannon T. Kelley sold 1,304 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $367.81, for a total transaction of $479,624.24. Following the completion of the sale, the general counsel directly owned 9,173 shares in the company, valued at approximately $3,373,921.13. The trade was a 12.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 165,683 shares of company stock valued at $61,921,142 and sold 301,740 shares valued at $109,461,331. 21.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $25,000. Accent Capital Management LLC purchased a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $25,000. AlphaQuest LLC grew its stake in shares of Madrigal Pharmaceuticals by 412.5% during the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $33,000. Finally, Farther Finance Advisors LLC boosted its holdings in Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 99 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other 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.