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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $378.44.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 347 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now owns 10,438 shares of the company’s stock, valued at $3,499,235.12. This represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $120,847.22. Following the sale, the vice president now owns 5,058 shares in the company, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 22.80% 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. Kozak & Associates Inc. bought a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $104,000. GAMMA Investing LLC boosted its holdings in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 67 shares during the last quarter. Farther Finance Advisors LLC increased its position in Madrigal Pharmaceuticals by 825.0% during the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 99 shares during the period. Park Avenue Securities LLC bought a new position in Madrigal Pharmaceuticals during the 1st quarter worth approximately $217,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Madrigal Pharmaceuticals by 11.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,009 shares of the biopharmaceutical company’s stock worth $3,647,000 after purchasing an additional 1,105 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Down 4.1 %

MDGL stock opened at $307.78 on Thursday. Madrigal Pharmaceuticals has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -12.27 and a beta of -0.69. The business’s fifty day moving average price is $330.29 and its two-hundred day moving average price is $305.26.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, equities analysts anticipate that Madrigal Pharmaceuticals will post -23.47 earnings per share 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.