Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Consensus Rating of "Moderate Buy" from Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $420.63.

MDGL has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. B. Riley reaffirmed a "buy" rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. UBS Group lifted their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th.

Madrigal Pharmaceuticals Trading Up 0.6%

Shares of MDGL stock opened at $302.64 on Tuesday. The company has a current ratio of 5.91, a quick ratio of 5.58 and a debt-to-equity ratio of 0.17. Madrigal Pharmaceuticals has a twelve month low of $200.63 and a twelve month high of $377.46. The company's 50-day moving average price is $292.49 and its 200-day moving average price is $312.06. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of -16.77 and a beta of -1.08.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to analysts' expectations of $112.79 million. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. During the same period in the prior year, the firm posted ($7.38) earnings per share. As a group, equities analysts predict that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $114,717,000. Adage Capital Partners GP L.L.C. grew its stake in Madrigal Pharmaceuticals by 860.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 191,609 shares of the biopharmaceutical company's stock worth $63,467,000 after purchasing an additional 171,649 shares in the last quarter. Woodline Partners LP increased its holdings in Madrigal Pharmaceuticals by 110.2% during the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock worth $95,384,000 after purchasing an additional 162,027 shares during the period. Hood River Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $39,447,000. Finally, Renaissance Technologies LLC raised its position in Madrigal Pharmaceuticals by 261.3% in the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after purchasing an additional 116,285 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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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