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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $654.7333.

A number of equities analysts have recently commented on the stock. Barclays initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price target on the stock. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 4th. JMP Securities set a $527.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 5th. B. Riley Financial upped their price target on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Bank of America raised Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and raised their price target for the company from $266.00 to $445.00 in a research report on Monday, November 3rd.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $478.83 on Wednesday. The stock has a market capitalization of $10.87 billion, a P/E ratio of -36.80, a P/E/G ratio of 6.95 and a beta of -1.01. The business has a 50-day moving average of $538.14 and a two-hundred day moving average of $474.43. Madrigal Pharmaceuticals has a fifty-two week low of $265.00 and a fifty-two week 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.

Insider Activity

In other news, insider Carole Huntsman sold 910 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $493.78, for a total value of $449,339.80. Following the completion of the sale, the insider directly owned 9,122 shares of the company’s stock, valued at approximately $4,504,261.16. This represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rebecca Taub sold 647 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $492.42, for a total transaction of $318,595.74. Following the completion of the sale, the director owned 452,704 shares in the company, valued at approximately $222,920,503.68. The trade was a 0.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 109,995 shares of company stock worth $58,996,851 over the last 90 days. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in Madrigal Pharmaceuticals by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after acquiring an additional 338 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Madrigal Pharmaceuticals by 388.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock valued at $7,012,000 after purchasing an additional 12,157 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Madrigal Pharmaceuticals by 16.3% in the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after purchasing an additional 8,347 shares during the last quarter. Calamos Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $2,057,000. Finally, Marex Group plc acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth about $548,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

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.