Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Madrigal Pharmaceuticals has received a consensus rating of "Moderate Buy" from ten analysts, with one hold and nine buy recommendations.
• The company's stock price target has been increased by various analysts, with TD Cowen setting it at $554.00 and UBS Group at $523.00.
• In its latest earnings report, Madrigal Pharmaceuticals reported a 1357.5% increase in revenue year-over-year, with earnings per share surpassing analysts' expectations.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $483.3750.

A number of equities research analysts have weighed in on the stock. JMP Securities boosted their target price on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 20th. UBS Group restated a "buy" rating and issued a $523.00 price objective (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. HC Wainwright began coverage on Madrigal Pharmaceuticals in a research note on Thursday, September 4th. They issued a "buy" rating and a $500.00 price objective for the company. TD Cowen upped their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, Cowen restated a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 7,279 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $445.63, for a total value of $3,243,740.77. Following the completion of the sale, the chief executive officer directly owned 102,474 shares in the company, valued at $45,665,488.62. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bros. Advisors Lp Baker purchased 59,901 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $385.16 per share, with a total value of $23,071,469.16. Following the purchase, the director directly owned 1,947,968 shares in the company, valued at $750,279,354.88. This represents a 3.17% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 165,683 shares of company stock worth $61,921,142 and sold 309,019 shares worth $112,705,072. Company insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently bought and sold shares of MDGL. VSM Wealth Advisory LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth $25,000. Accent Capital Management LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth $25,000. AlphaQuest LLC increased its stake in Madrigal Pharmaceuticals by 412.5% in the 2nd quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 66 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth $33,000. Finally, Farther Finance Advisors LLC increased its stake in Madrigal Pharmaceuticals by 825.0% in the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 5.6%

MDGL stock traded up $23.32 during midday trading on Friday, hitting $440.75. The company's stock had a trading volume of 475,049 shares, compared to its average volume of 326,654. The company has a market cap of $9.78 billion, a PE ratio of -34.30 and a beta of -1.02. Madrigal Pharmaceuticals has a 12 month low of $200.63 and a 12 month high of $457.16. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average is $374.33 and its 200-day moving average is $329.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) earnings per share for the quarter, beating analysts' consensus estimates of ($3.48) by $1.58. The business had revenue of $212.80 million during the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company's quarterly revenue was up 1357.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($7.10) EPS. On average, equities research analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal 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.