Madrigal Pharmaceuticals (NASDAQ:MDGL) Shares Up 7.4% – Should You Buy?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s share price was up 7.4% during trading on Friday . The company traded as high as $277.96 and last traded at $293.05. Approximately 200,354 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 428,451 shares. The stock had previously closed at $272.79.

Analyst Ratings Changes

Several equities analysts have weighed in on MDGL shares. B. Riley lifted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. UBS Group upped their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright upped their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Oppenheimer decreased their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $351.67.

Madrigal Pharmaceuticals Stock Performance

The stock’s 50-day moving average price is $314.19 and its 200 day moving average price is $272.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released 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 firm had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter last year, the company earned ($5.34) earnings per share. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Shannon T. Kelley sold 277 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the completion of the sale, the general counsel now owns 7,705 shares in the company, valued at $2,106,624.05. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,408 shares of company stock valued at $4,489,207 in the last 90 days. 22.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals during the fourth quarter valued at about $216,000. Franklin Resources Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 103 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 12.7% during the third quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock valued at $251,000 after purchasing an additional 134 shares during the period. Geode Capital Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Barclays PLC lifted its position in Madrigal Pharmaceuticals by 159.9% in the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock worth $8,549,000 after purchasing an additional 24,783 shares during the period. Institutional investors 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.