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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $532.70.

A number of analysts have recently weighed in on MDGL shares. TD Cowen raised their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a “buy” rating in a research note on Friday, September 12th. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a “buy” rating in a report on Monday, September 29th. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 26th. Finally, UBS Group restated a “buy” rating and set a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $418.90 on Monday. The company has a 50-day simple moving average of $433.67 and a two-hundred day simple moving average of $352.78. 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 one year low of $238.04 and a one year high of $463.63. The company has a market capitalization of $9.30 billion, a PE ratio of -32.60 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company’s quarterly revenue was up 1357.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($7.10) EPS. Research analysts expect that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 7,279 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $445.63, for a total transaction of $3,243,740.77. Following the completion of the sale, the chief executive officer directly owned 102,474 shares in the company, valued at approximately $45,665,488.62. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul A. Friedman sold 129,172 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the completion of the transaction, the director owned 187,164 shares of the company’s stock, valued at $69,295,599.36. This trade represents a 40.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders acquired 165,683 shares of company stock valued at $61,921,142 and sold 248,642 shares valued at $91,388,103. 21.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. VSM Wealth Advisory LLC purchased a new stake in Madrigal Pharmaceuticals in the first quarter valued at approximately $25,000. Accent Capital Management LLC purchased a new position in Madrigal Pharmaceuticals during the 1st quarter worth approximately $25,000. AlphaQuest LLC increased its stake in shares of Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 66 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $33,000. Finally, Mather Group LLC. acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth $33,000. 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.