Madrigal Pharmaceuticals (NASDAQ:MDGL) Now Covered by Citigroup

Investment analysts at Citigroup assumed coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $725.00 price target on the biopharmaceutical company’s stock. Citigroup’s target price indicates a potential upside of 40.35% from the stock’s current price.

A number of other research firms have also recently commented on MDGL. UBS Group reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Wells Fargo & Company started coverage on shares of Madrigal Pharmaceuticals in a research report on Monday, July 27th. They set an “overweight” rating and a $685.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $704.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, July 17th. Finally, Barclays cut their target price on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $710.20.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded up $3.35 during trading on Wednesday, reaching $516.56. 153,392 shares of the company’s stock were exchanged, compared to its average volume of 208,622. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94. Madrigal Pharmaceuticals has a 1-year low of $393.61 and a 1-year high of $615.00. The firm’s 50-day moving average price is $526.75 and its 200 day moving average price is $513.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, beating the consensus estimate of ($2.68) by $0.69. Madrigal Pharmaceuticals had a negative return on equity of 56.65% and a negative net margin of 25.32%.The business had revenue of $364.25 million for the quarter, compared to analyst estimates of $352.13 million. During the same period last year, the firm posted ($1.90) earnings per share. Madrigal Pharmaceuticals’s revenue was up 71.2% compared to the same quarter last year. As a group, analysts forecast that Madrigal Pharmaceuticals will post -7.03 EPS for the current fiscal year.

Insider Activity

In related news, CEO William Sibold sold 5,221 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $542.39, for a total value of $2,831,818.19. Following the completion of the transaction, the chief executive officer owned 197,746 shares in the company, valued at $107,255,452.94. This trade represents a 2.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Shannon T. Kelley sold 664 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $514.97, for a total transaction of $341,940.08. Following the sale, the general counsel owned 11,474 shares in the company, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 12,247 shares of company stock worth $6,581,182. Company insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in shares of Madrigal Pharmaceuticals by 5.2% during the second quarter. Tidal Investments LLC now owns 1,631 shares of the biopharmaceutical company’s stock valued at $876,000 after acquiring an additional 80 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter worth $709,000. Arizona State Retirement System grew its stake in shares of Madrigal Pharmaceuticals by 1.5% in the second quarter. Arizona State Retirement System now owns 4,114 shares of the biopharmaceutical company’s stock worth $2,209,000 after purchasing an additional 60 shares during the last quarter. Nykredit A S bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter worth $356,000. Finally, Amundi increased its holdings in Madrigal Pharmaceuticals by 13.2% in the second quarter. Amundi now owns 1,386 shares of the biopharmaceutical company’s stock valued at $744,000 after purchasing an additional 162 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc (NASDAQ: MDGL) is a biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic diseases, particularly nonalcoholic steatohepatitis, now commonly referred to as metabolic dysfunction-associated steatohepatitis (MASH).

The company’s lead product is Rezdiffra (resmetirom), an oral, thyroid hormone receptor beta agonist designed to target underlying liver disease. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH and moderate to advanced liver fibrosis.