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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $687.9286.

Several research analysts have recently weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 1st. Piper Sandler reaffirmed an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Bank of America reduced their price objective on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an “overweight” rating in a research report on Monday, June 1st. Finally, Canaccord Genuity Group reduced their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research report on Thursday, May 7th.

Insider Activity

In other news, insider David Soergel sold 1,042 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the sale, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. This represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 7,568 shares of company stock valued at $3,880,711. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $29,000. Aventura Private Wealth LLC bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth $36,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth $39,000. Quarry LP purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth $39,000. Finally, Eastern Bank boosted its stake 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 buying an additional 21 shares during the period. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 0.9%

MDGL opened at $545.53 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.50 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of -42.62 and a beta of -1.05. Madrigal Pharmaceuticals has a twelve month low of $286.44 and a twelve month high of $615.00. The company’s 50-day moving average price is $512.87 and its two-hundred day moving average price is $501.51.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The firm had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company’s revenue was up 126.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.32) EPS. As a group, equities analysts expect that Madrigal Pharmaceuticals will post -7.3 earnings per share for the current 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-β agonist in Phase 3 development for the treatment of NASH.