Madrigal Pharmaceuticals (NASDAQ:MDGL) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report report published on Monday morning, MarketBeat reports. The firm issued an underperform rating and a $150.00 target price on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on MDGL. Canaccord Genuity Group lifted their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a buy rating in a research note on Friday, March 15th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a buy rating in a research note on Friday, March 15th. StockNews.com raised shares of Madrigal Pharmaceuticals to a sell rating in a research note on Friday, April 12th. TD Cowen boosted their price objective on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an outperform rating in a research report on Friday, March 15th. Finally, UBS Group boosted their price objective 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. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $356.73.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $204.65 on Monday. The company’s 50-day moving average price is $244.64 and its 200-day moving average price is $211.94. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market cap of $4.07 billion, a PE ratio of -10.26 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the firm earned ($4.98) EPS. On average, equities research analysts forecast that Madrigal Pharmaceuticals will post -21.48 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Rebecca Taub sold 2,676 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $245.99, for a total transaction of $658,269.24. Following the completion of the transaction, the chief marketing officer now owns 458,999 shares in the company, valued at approximately $112,909,164.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the transaction, the director now owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,496 shares of company stock valued at $31,362,420. Company insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Avoro Capital Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 21.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after acquiring an additional 333,888 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Madrigal Pharmaceuticals by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after acquiring an additional 107,816 shares in the last quarter. Paulson & CO. Inc. raised its stake in shares of Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after acquiring an additional 605,741 shares in the last quarter. RTW Investments LP increased its stake in Madrigal Pharmaceuticals by 163.4% during the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after purchasing an additional 505,706 shares in the last quarter. Finally, FMR LLC increased its stake in Madrigal Pharmaceuticals by 26.2% during the 3rd quarter. FMR LLC now owns 440,380 shares of the biopharmaceutical company’s stock valued at $64,313,000 after purchasing an additional 91,337 shares in 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.