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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $347.33.

MDGL has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. B. Riley increased their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. UBS Group increased their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th.

Madrigal Pharmaceuticals Trading Down 1.6 %

Shares of MDGL stock opened at $306.08 on Friday. The stock has a market capitalization of $6.68 billion, a PE ratio of -12.20 and a beta of -0.42. Madrigal Pharmaceuticals has a 1-year low of $168.25 and a 1-year high of $368.29. The business has a 50-day moving average of $284.24 and a 200 day moving average of $265.97. 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 (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for 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, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Fred B. Craves sold 3,600 shares of the firm’s stock in a transaction that occurred on 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 $3,468,410. This trade represents a 24.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock valued at $3,830,836. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in MDGL. Comerica Bank boosted its stake in shares of Madrigal Pharmaceuticals by 615.4% in the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 320 shares during the last quarter. Cetera Advisors LLC purchased a new position in Madrigal Pharmaceuticals during the first quarter valued at $281,000. Envestnet Portfolio Solutions Inc. purchased a new position in Madrigal Pharmaceuticals during the second quarter valued at $252,000. First Horizon Advisors Inc. lifted its position in Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 98 shares in the last quarter. Finally, Calamos Advisors LLC lifted its position in Madrigal Pharmaceuticals by 13.8% during the second quarter. Calamos Advisors LLC now owns 4,112 shares of the biopharmaceutical company’s stock valued at $1,152,000 after purchasing an additional 499 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.