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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has received an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $687.9286.

Several research firms have weighed in on MDGL. Bank of America lowered their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Piper Sandler reiterated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Citigroup reissued a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday, June 1st. Wells Fargo & Company upgraded shares of Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. Finally, Truist Financial raised their target price on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the transaction, the insider owned 10,033 shares in the company, valued at $4,973,759.42. This trade represents a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,568 shares of company stock worth $3,880,711 in the last three months. 17.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $29,000. Aventura Private Wealth LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $36,000. Kemnay Advisory Services Inc. bought a new position in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $39,000. Quarry LP bought a new position in Madrigal Pharmaceuticals in the third quarter valued at approximately $39,000. Finally, Eastern Bank raised its position in Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 21 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL traded down $23.31 during trading on Friday, reaching $536.70. 294,013 shares of the stock were exchanged, compared to its average volume of 407,285. Madrigal Pharmaceuticals has a 12 month low of $286.44 and a 12 month high of $615.00. The firm has a market cap of $12.37 billion, a PE ratio of -41.93 and a beta of -1.05. The stock has a 50-day moving average price of $511.48 and a 200-day moving average price of $503.93. The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. The company had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm’s quarterly revenue was up 126.8% compared to the same quarter last year. During the same quarter last year, the company earned ($3.32) earnings per share. Research analysts expect that Madrigal Pharmaceuticals will post -7.3 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-? agonist in Phase 3 development for the treatment of NASH.