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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $343.83.

Several research firms have recently issued reports on MDGL. JMP Securities increased their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Wednesday. Wolfe Research assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 target price for the company. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock opened at $206.58 on Friday. The company has a 50-day simple moving average of $243.61 and a two-hundred day simple moving average of $247.35. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $299.98. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of -8.95 and a beta of -0.43. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 23.92% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its holdings in 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 during the period. EntryPoint Capital LLC acquired a new position in shares of Madrigal Pharmaceuticals in the first quarter worth approximately $41,000. Signaturefd LLC boosted its holdings in Madrigal Pharmaceuticals by 36.8% in the second 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. UMB Bank n.a. acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at approximately $53,000. Finally, Quest Partners LLC raised its holdings in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds 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.