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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $347.33.

A number of brokerages have weighed in on MDGL. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup cut their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MDGL. Oppenheimer Asset Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 2.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after purchasing an additional 31 shares during the last quarter. Signaturefd LLC boosted its position 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 buying an additional 39 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after buying an additional 40 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $288.58 on Monday. The firm has a market capitalization of $6.29 billion, a P/E ratio of -11.51 and a beta of -0.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average price is $243.84 and its two-hundred day moving average price is $251.14. Madrigal Pharmaceuticals has a 1 year low of $160.15 and a 1 year high of $368.29.

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

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.