Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $528.4167.

Several equities analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Madrigal Pharmaceuticals from $500.00 to $590.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. JMP Securities set a $527.00 target price on Madrigal Pharmaceuticals in a research report on Wednesday. Bank of America raised Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $266.00 to $445.00 in a report on Monday, November 3rd. Finally, Citizens Jmp increased their price target on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a “market outperform” rating in a research note on Wednesday.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker purchased 59,901 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $385.16 per share, for a total transaction of $23,071,469.16. Following the transaction, the director owned 1,947,968 shares of the company’s stock, valued at approximately $750,279,354.88. This trade represents a 3.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul A. Friedman sold 129,172 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total transaction of $47,824,641.28. Following the completion of the sale, the director directly owned 187,164 shares in the company, valued at approximately $69,295,599.36. This represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 165,683 shares of company stock valued at $61,921,142 and sold 265,217 shares valued at $99,415,375. Insiders own 21.50% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of MDGL. VSM Wealth Advisory LLC bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at $25,000. Accent Capital Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth about $25,000. AlphaQuest LLC lifted its stake in shares of Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 66 shares during the period. Summit Securities Group LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at about $33,000. Finally, Mather Group LLC. bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $33,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $489.26 on Monday. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of -38.07 and a beta of -1.04. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $437.14 and its 200-day moving average price is $357.69. Madrigal Pharmaceuticals has a 12 month low of $265.00 and a 12 month high of $496.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The firm had revenue of $287.27 million during the quarter, compared to analyst estimates of $244.33 million. Equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

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.