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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $416.33.

A number of equities analysts have recently weighed in on MDGL shares. Canaccord Genuity Group boosted their price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. B. Riley reiterated a "buy" rating and issued a $460.00 price target (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 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Finally, Citigroup upped their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $274.10 on Friday. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm's 50-day simple moving average is $301.01 and its 200 day simple moving average is $316.20. Madrigal Pharmaceuticals has a 52 week low of $200.63 and a 52 week high of $377.46. The firm has a market capitalization of $6.09 billion, a PE ratio of -10.93 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to analysts' expectations of $112.79 million. During the same period in the previous year, the company posted ($7.38) EPS. On average, equities research analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $1,297,000. Franklin Resources Inc. grew its position in Madrigal Pharmaceuticals by 340.1% in the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $16,615,000. Prudential Financial Inc. raised its stake in shares of Madrigal Pharmaceuticals by 166.2% during the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock valued at $1,128,000 after purchasing an additional 2,282 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Madrigal Pharmaceuticals by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company's stock worth $46,516,000 after buying an additional 2,776 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.