Madrigal Pharmaceuticals (NASDAQ:MDGL) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research note published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $390.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. Evercore ISI reduced their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JMP Securities raised their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $341.75.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $202.99 on Tuesday. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.33 billion, a P/E ratio of -8.79 and a beta of -0.44. The business has a fifty day simple moving average of $229.08 and a two-hundred day simple moving average of $242.74. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analysts’ expectations of $4.25 million. The business’s quarterly revenue was up 146280.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($4.69) EPS. On average, equities analysts forecast that Madrigal Pharmaceuticals will post -27.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 68 shares during the period. Cavalier Investments LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $773,000. Creative Planning grew its stake in shares of Madrigal Pharmaceuticals by 2.7% during the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 87 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Madrigal Pharmaceuticals by 2.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 32,500 shares of the biopharmaceutical company’s stock valued at $6,897,000 after purchasing an additional 900 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $414,000. 98.50% of the stock is currently owned by institutional investors.

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.