Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns Overweight Rating from Analysts at Barclays

Barclays began coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report released on Tuesday, Marketbeat.com reports. The firm issued an overweight rating and a $964.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on MDGL. Truist Financial lifted their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Citizens Jmp lifted their price objective on shares of Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group reissued a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. Piper Sandler increased their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, JMP Securities set a $527.00 price target on Madrigal Pharmaceuticals in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $654.73.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $494.69 on Tuesday. Madrigal Pharmaceuticals has a 1 year low of $265.00 and a 1 year high of $615.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. The stock’s fifty day moving average price is $554.76 and its two-hundred day moving average price is $463.39. The firm has a market cap of $11.23 billion, a PE ratio of -38.02, a PEG ratio of 4.90 and a beta of -1.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. On average, equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Shannon T. Kelley sold 692 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $497.36, for a total transaction of $344,173.12. Following the completion of the transaction, the general counsel directly owned 8,481 shares in the company, valued at $4,218,110.16. The trade was a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 1,577 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $492.42, for a total value of $776,546.34. Following the sale, the chief executive officer owned 148,497 shares of the company’s stock, valued at approximately $73,122,892.74. This trade represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,570 shares of company stock valued at $67,024,124 in the last ninety days. 21.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Large investors have recently modified their holdings of the company. AlphaQuest LLC boosted its stake in 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 buying an additional 66 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $29,000. Mather Group LLC. bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at $33,000. Global Retirement Partners LLC grew its holdings in shares of Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 51 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter worth $34,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.