Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $624.0833.

A number of research firms have recently weighed in on MDGL. Bank of America upgraded Madrigal Pharmaceuticals from an “underperform” rating to a “neutral” rating and raised their target price for the company from $266.00 to $445.00 in a report on Monday, November 3rd. Citizens Jmp lifted their price objective on shares of Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 5th. HC Wainwright increased their target price on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a report on Friday, November 21st. Truist Financial raised their price target on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th.

Insider Buying and Selling

In related news, Director Rebecca Taub sold 18,650 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $552.15, for a total transaction of $10,297,597.50. Following the completion of the sale, the director directly owned 461,044 shares of the company’s stock, valued at approximately $254,565,444.60. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth Bate sold 16,575 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $484.30, for a total value of $8,027,272.50. Following the completion of the transaction, the director directly owned 2,627 shares in the company, valued at approximately $1,272,256.10. This represents a 86.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 77,056 shares of company stock valued at $41,324,312 over the last quarter. Corporate insiders own 21.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in shares of Madrigal Pharmaceuticals by 5,381.2% in the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after purchasing an additional 397,076 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after buying an additional 184,554 shares during the period. Norges Bank bought a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at $53,406,000. Baker BROS. Advisors LP grew its stake in shares of Madrigal Pharmaceuticals by 8.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after acquiring an additional 165,683 shares during the period. Finally, Alkeon Capital Management LLC bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth $55,039,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $589.47 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $531.87 and a two-hundred day simple moving average of $428.18. Madrigal Pharmaceuticals has a 12 month low of $265.00 and a 12 month high of $615.00. The firm has a market capitalization of $13.39 billion, a PE ratio of -45.31 and a beta of -1.04.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) EPS for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. Analysts forecast that Madrigal Pharmaceuticals will post -23.47 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.