Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Average Rating 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 been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $483.3750.

Several analysts recently weighed in on the company. TD Cowen upped their price target on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. JMP Securities upped their price target on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 20th. Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 26th. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a "buy" rating in a research note on Friday. Finally, UBS Group reiterated a "buy" rating and set a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th.

Madrigal Pharmaceuticals Stock Down 1.6%

Shares of NASDAQ:MDGL opened at $432.22 on Friday. Madrigal Pharmaceuticals has a 52-week low of $200.63 and a 52-week high of $457.16. The firm has a market capitalization of $9.60 billion, a P/E ratio of -33.64 and a beta of -1.02. The stock has a 50 day moving average price of $364.11 and a 200-day moving average price of $326.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11.

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 (EPS) for the quarter, topping the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million during the quarter, compared to analyst estimates of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The business's revenue was up 1357.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($7.10) EPS. As a group, equities research analysts anticipate that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Bros. Advisors Lp Baker purchased 68,618 shares of the firm's stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $364.04 per share, with a total value of $24,979,696.72. Following the completion of the acquisition, the director directly owned 1,859,091 shares in the company, valued at $676,783,487.64. The trade was a 3.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul A. Friedman sold 129,172 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $370.24, for a total value of $47,824,641.28. Following the sale, the director directly owned 187,164 shares in the company, valued at approximately $69,295,599.36. This represents a 40.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 165,683 shares of company stock worth $61,921,142 and sold 309,019 shares worth $112,705,072. Corporate insiders own 21.50% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MDGL. Cetera Investment Advisers raised its holdings in Madrigal Pharmaceuticals by 85.5% during the fourth quarter. Cetera Investment Advisers now owns 2,882 shares of the biopharmaceutical company's stock valued at $889,000 after acquiring an additional 1,328 shares during the period. Graham Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals during the fourth quarter valued at about $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Madrigal Pharmaceuticals by 1.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,162 shares of the biopharmaceutical company's stock valued at $4,374,000 after acquiring an additional 138 shares during the period. Man Group plc purchased a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $2,622,000. Finally, ProShare Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 32.6% during the fourth quarter. ProShare Advisors LLC now owns 6,096 shares of the biopharmaceutical company's stock valued at $1,881,000 after purchasing an additional 1,498 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

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.

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