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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $378.44.

Several analysts recently issued reports on MDGL shares. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $341.62 on Friday. Madrigal Pharmaceuticals has a 52-week low of $189.00 and a 52-week high of $377.46. The stock has a market cap of $7.54 billion, a PE ratio of -13.62 and a beta of -0.40. The firm has a 50-day moving average of $327.53 and a 200-day moving average of $293.77. 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 (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 103 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the sale, the vice president now owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock worth $12,168,079 over the last ninety days. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MDGL. California State Teachers Retirement System grew its stake in shares of Madrigal Pharmaceuticals by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 12,546 shares of the biopharmaceutical company’s stock worth $3,871,000 after buying an additional 105 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $210,000. Centaurus Financial Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 12.9% during the 4th quarter. Centaurus Financial Inc. now owns 690 shares of the biopharmaceutical company’s stock valued at $213,000 after acquiring an additional 79 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $141,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Madrigal Pharmaceuticals by 23.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,538 shares of the biopharmaceutical company’s stock worth $8,497,000 after purchasing an additional 5,182 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.