Madrigal Pharmaceuticals’ (MDGL) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report report published on Wednesday,Benzinga reports.

Several other research analysts have also weighed in on MDGL. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. B. Riley upped 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. Evercore ISI dropped their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. UBS Group boosted their target price 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. Finally, Citigroup dropped their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $317.09 on Wednesday. The company has a market cap of $6.92 billion, a P/E ratio of -12.64 and a beta of -0.46. The business’s 50 day moving average price is $246.71 and its 200-day moving average price is $252.63. Madrigal Pharmaceuticals has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) EPS. Sell-side analysts predict that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 11,012 shares in the company, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its position 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 bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $41,000. Signaturefd LLC raised its stake in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC increased its position 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 valued at $45,000 after buying an additional 68 shares during the period. Finally, Quest Partners LLC increased its holdings in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.