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

Cantor Fitzgerald reissued their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report released on Friday, Benzinga reports.

A number of other equities research analysts have also recently issued reports on MDGL. JMP Securities upped their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a market outperform rating in a research note on Tuesday, July 16th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a sell rating in a research note on Wednesday, October 2nd. Citigroup decreased their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating for the company in a research report on Thursday, August 8th. Finally, Evercore ISI dropped their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of Moderate Buy and an average price target of $343.83.

Madrigal Pharmaceuticals Stock Up 1.7 %

Madrigal Pharmaceuticals stock opened at $214.15 on Friday. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $299.98. The company has a fifty day simple moving average of $235.57 and a 200 day simple moving average of $245.37. The company has a market cap of $4.65 billion, a P/E ratio of -8.40 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. Madrigal Pharmaceuticals’s revenue was up 146280.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.69) EPS. Research analysts anticipate that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its holdings in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at about $41,000. Signaturefd LLC raised its stake in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 39 shares in the last quarter. Quest Partners LLC lifted its position in 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 period. Finally, BNP Paribas acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth about $68,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.