Madrigal Pharmaceuticals (NASDAQ:MDGL) Coverage Initiated at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report released on Friday, Marketbeat reports. The firm set a “neutral” rating on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on MDGL. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Wednesday, June 5th. Canaccord Genuity Group increased their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price target on the stock. B. Riley cut their price objective on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Bank of America started coverage on shares of Madrigal Pharmaceuticals in a report on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $348.17.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $280.16 on Friday. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -12.13 and a beta of -0.41. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $299.98. The firm’s 50-day moving average price is $238.42 and its two-hundred day moving average price is $236.73.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the previous year, the company earned ($4.23) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals will post -27.62 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 1,036 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the sale, the vice president now owns 5,500 shares of the company’s stock, valued at $1,272,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Fred B. Craves sold 22,489 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the completion of the sale, the director now owns 413,362 shares of the company’s stock, valued at $87,996,502.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,272,370. The disclosure for this sale can be found here. Insiders sold 173,921 shares of company stock valued at $37,491,547 over the last quarter. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in 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 purchasing an additional 100 shares in the last quarter. EntryPoint Capital LLC bought a new position in Madrigal Pharmaceuticals in the first quarter valued at $41,000. UMB Bank n.a. bought a new position in Madrigal Pharmaceuticals in the first quarter valued at $53,000. BNP Paribas bought a new position in Madrigal Pharmaceuticals in the first quarter valued at $68,000. Finally, Comerica Bank grew its position in Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 320 shares in 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.