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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the firm, 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 12 month target price among analysts that have updated their coverage on the stock in the last year is $416.33.

Several research analysts recently weighed in on MDGL shares. Canaccord Genuity Group lifted their price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. B. Riley restated a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 14,113 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total value of $4,817,049.16. Following the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,272,440.96. The trade was a 79.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares in the company, valued at $664,324.40. This trade represents a 89.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,810 shares of company stock worth $10,610,594. Corporate insiders own 22.80% of the company's stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $1,297,000. Franklin Resources Inc. raised its stake in Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after acquiring an additional 4,704 shares during the period. Raymond James Financial Inc. bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $16,615,000. Barclays PLC raised its stake in Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock valued at $8,549,000 after acquiring an additional 24,783 shares during the period. Finally, Prudential Financial Inc. raised its stake in Madrigal Pharmaceuticals by 166.2% in the 4th quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock valued at $1,128,000 after acquiring an additional 2,282 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded down $2.39 during mid-day trading on Monday, reaching $289.43. 45,344 shares of the stock were exchanged, compared to its average volume of 384,209. The company has a market cap of $6.43 billion, a price-to-earnings ratio of -11.53 and a beta of -0.91. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $318.87 and a 200 day simple moving average of $319.33. Madrigal Pharmaceuticals has a fifty-two week low of $200.63 and a fifty-two week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter last year, the business earned ($7.38) EPS. On average, sell-side analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS 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.