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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $347.33.

A number of equities research analysts have recently commented on the company. UBS Group raised their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. B. Riley increased their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th.

Madrigal Pharmaceuticals Stock Down 1.3 %

Madrigal Pharmaceuticals stock opened at $302.47 on Friday. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of -12.06 and a beta of -0.42. The company’s 50 day simple moving average is $280.39 and its 200 day simple moving average is $264.25. 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 has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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 firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the business earned ($5.34) earnings per share. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -24.08 EPS for the current year.

Insider Activity

In other news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the sale, the director now owns 14,600 shares of the company’s stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $3,830,836 in the last quarter. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of Madrigal Pharmaceuticals by 615.4% during the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring an additional 320 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $281,000. Envestnet Portfolio Solutions Inc. acquired a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $252,000. First Horizon Advisors Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 98 shares in the last quarter. Finally, Calamos Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 13.8% in the second quarter. Calamos Advisors LLC now owns 4,112 shares of the biopharmaceutical company’s stock worth $1,152,000 after acquiring an additional 499 shares during 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.