Cantor Fitzgerald Reaffirms “Neutral” Rating for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Cantor Fitzgerald reiterated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report released on Friday, Benzinga reports.

A number of other equities analysts also recently issued reports on the stock. JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a market outperform rating in a report on Tuesday, July 16th. Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating for the company in a research report on Thursday, August 8th. Evercore ISI lowered their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com raised Madrigal Pharmaceuticals to a sell rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $343.83.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $215.43 on Friday. The business has a 50-day simple moving average of $234.69 and a two-hundred day simple moving average of $244.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -8.45 and a beta of -0.44. Madrigal Pharmaceuticals has a fifty-two week low of $119.76 and a fifty-two week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter last year, the company earned ($4.69) EPS. The firm’s revenue for the quarter was up 146280.0% on a year-over-year basis. On average, analysts expect that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position 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 acquiring an additional 39 shares during the last quarter. Creative Planning grew its stake in shares of Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock worth $700,000 after buying an additional 87 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% in 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 during the last quarter. Amalgamated Bank raised its position in shares of Madrigal Pharmaceuticals by 20.2% during the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 102 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 5.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock valued at $631,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other 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.