Madrigal Pharmaceuticals (NASDAQ:MDGL) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report published on Friday,Benzinga reports. JMP Securities currently has a $427.00 price objective on the biopharmaceutical company’s stock.

MDGL has been the topic of several other reports. Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group lifted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. B. Riley lifted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.83.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $338.91 on Friday. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of -13.51 and a beta of -0.36. The firm’s 50 day simple moving average is $320.07 and its 200 day simple moving average is $272.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter last year, the business posted ($5.34) earnings per share. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 3,600 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. The trade was a 24.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $3,830,836 over the last quarter. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in 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 acquiring an additional 68 shares in the last quarter. Quest Partners LLC grew 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. Centaurus Financial Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $163,000. Amalgamated Bank grew its holdings in shares of Madrigal Pharmaceuticals by 20.2% during the second quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 102 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth about $204,000. 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.