Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $687.00.

A number of analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $620.00 target price on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Bank of America decreased their target price on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th.

Insider Activity

In related news, General Counsel Shannon T. Kelley sold 360 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $155,498.40. Following the sale, the general counsel owned 12,138 shares of the company’s stock, valued at $5,242,887.72. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rebecca Taub sold 491 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $212,082.54. Following the completion of the sale, the director directly owned 452,213 shares in the company, valued at approximately $195,328,883.22. This represents a 0.11% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 12,624 shares of company stock valued at $5,990,403. 17.60% of the stock is currently owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Baker BROS. Advisors LP grew its stake in shares of Madrigal Pharmaceuticals by 8.4% in the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Madrigal Pharmaceuticals by 27.4% in the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after purchasing an additional 433,804 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Madrigal Pharmaceuticals by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company’s stock worth $268,693,000 after purchasing an additional 56,947 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company’s stock worth $263,114,000 after purchasing an additional 5,510 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Madrigal Pharmaceuticals by 17.6% in the third quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock worth $188,877,000 after purchasing an additional 61,513 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Down 2.2%

Shares of MDGL opened at $515.96 on Friday. The firm has a 50 day simple moving average of $512.75 and a two-hundred day simple moving average of $515.52. The company has a market cap of $11.90 billion, a P/E ratio of -40.31 and a beta of -1.04. Madrigal Pharmaceuticals has a one year low of $265.20 and a one year high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. The firm had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The company’s revenue was up 126.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.32) earnings per share. Research analysts forecast that Madrigal Pharmaceuticals will post -7.23 EPS for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.