Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns “Neutral” Rating from Cantor Fitzgerald

Madrigal Pharmaceuticals (NASDAQ:MDGL)‘s stock had its “neutral” rating restated by research analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer reduced their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group boosted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup lowered their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Trading Up 3.4 %

NASDAQ:MDGL opened at $328.02 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals has a 1 year low of $168.25 and a 1 year high of $368.29. The stock has a market cap of $7.15 billion, a P/E ratio of -12.64 and a beta of -0.46. The stock has a 50-day simple moving average of $248.39 and a 200-day simple moving average of $253.08.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the company earned ($5.34) earnings per share. As a group, analysts anticipate that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth approximately $41,000. Signaturefd LLC raised its holdings in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 68 shares during the period. Finally, Quest Partners LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.