Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $378.44.

A number of brokerages have commented on MDGL. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price target for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Citigroup upped their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $327.87 on Friday. The stock’s 50 day simple moving average is $332.93 and its 200-day simple moving average is $297.12. 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 stock has a market cap of $7.24 billion, a PE ratio of -13.07 and a beta of -0.41. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. Sell-side analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares of the company’s stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 14,113 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock valued at $12,168,079 in the last 90 days. 22.80% of the stock is owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

Large investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $70,000. Quest Partners LLC increased its stake in Madrigal Pharmaceuticals by 172.8% during the 3rd quarter. Quest Partners LLC now owns 581 shares of the biopharmaceutical company’s stock worth $123,000 after purchasing an additional 368 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $141,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $164,000. Finally, KBC Group NV lifted its stake in Madrigal Pharmaceuticals by 73.5% in the fourth quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 258 shares in the last quarter. Institutional investors 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.