Cantor Fitzgerald Reiterates Neutral Rating for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Madrigal Pharmaceuticals (NASDAQ:MDGL)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI reduced their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. B. Riley increased their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $347.33.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $314.17 on Wednesday. The firm’s fifty day moving average is $245.14 and its two-hundred day moving average is $252.04. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -12.53 and a beta of -0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals has a one year low of $168.25 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the firm posted ($5.34) earnings per share. Research analysts expect that Madrigal Pharmaceuticals will post -24.08 EPS for the current year.

Insider Activity

In related news, CEO William John Sibold sold 6,363 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of MDGL. Oppenheimer Asset Management Inc. increased its stake in Madrigal Pharmaceuticals by 2.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 31 shares during the period. Signaturefd LLC grew its holdings in shares of 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 purchasing an additional 39 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 40 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares during the period. Finally, Creative Planning lifted its holdings in Madrigal Pharmaceuticals by 2.7% during 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. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.