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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $348.17.

Several brokerages have issued reports on MDGL. Oppenheimer boosted their price target on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, March 15th. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, March 15th. TD Cowen increased their target price on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Wednesday, June 5th. Finally, JMP Securities decreased their price target on shares of Madrigal Pharmaceuticals from $397.00 to $381.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $267.79 on Friday. The company’s 50 day moving average price is $232.02 and its 200 day moving average price is $234.30. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98. The company has a market capitalization of $5.71 billion, a PE ratio of -11.60 and a beta of -0.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter in the previous year, the business posted ($4.23) EPS. Research analysts expect that Madrigal Pharmaceuticals will post -27.62 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the sale, the vice president now owns 5,500 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Robert E. Waltermire sold 1,900 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $280.00, for a total value of $532,000.00. Following the completion of the transaction, the vice president now owns 5,500 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $102.77, for a total value of $3,338,894.53. Following the completion of the transaction, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,921 shares of company stock valued at $37,491,547. 23.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDGL. Global Retirement Partners LLC grew its position in Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. EntryPoint Capital LLC bought a new position in Madrigal Pharmaceuticals in the first quarter valued at about $41,000. UMB Bank n.a. bought a new position in Madrigal Pharmaceuticals in the first quarter valued at about $53,000. BNP Paribas bought a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $68,000. Finally, Comerica Bank grew its holdings in shares of Madrigal Pharmaceuticals by 615.4% during the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.