Madrigal Pharmaceuticals’ (MDGL) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $620.00 target price on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. Citizens Jmp increased their price target on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 20th. Barclays began coverage on Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price objective on the stock. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $571.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, January 14th. Finally, Bank of America dropped their price target on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $682.07.

Madrigal Pharmaceuticals Stock Down 4.6%

MDGL stock opened at $510.04 on Wednesday. The firm’s 50-day moving average is $488.41 and its two-hundred day moving average is $507.15. The company has a market capitalization of $11.76 billion, a price-to-earnings ratio of -39.85 and a beta of -1.04. Madrigal Pharmaceuticals has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a current ratio of 4.01, a quick ratio of 3.77 and a debt-to-equity ratio of 0.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 48.24%. The business had revenue of $311.34 million during the quarter, compared to analysts’ expectations of $301.05 million. During the same period last year, the firm posted ($3.32) earnings per share. The business’s revenue was up 126.8% on a year-over-year basis. On average, analysts forecast that Madrigal Pharmaceuticals will post -5.34 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,663 shares of the firm’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 $718,316.22. Following the completion of the sale, the chief executive officer directly owned 161,829 shares of the company’s stock, valued at $69,900,418.26. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rebecca Taub sold 491 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $212,082.54. Following the completion of the transaction, the director owned 452,213 shares in the company, valued at $195,328,883.22. The trade was a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,098 shares of company stock worth $2,626,254. 21.50% of the stock is owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of MDGL. Wellington Management Group LLP boosted its holdings in shares of Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after buying an additional 397,076 shares during the period. Norges Bank acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $114,368,000. Baker BROS. Advisors LP lifted its position in shares of Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock valued at $982,313,000 after acquiring an additional 165,683 shares in the last quarter. Deutsche Bank AG boosted its stake in Madrigal Pharmaceuticals by 414.5% in the 4th quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company’s stock worth $111,873,000 after purchasing an additional 154,767 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in Madrigal Pharmaceuticals by 139.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company’s stock worth $142,555,000 after purchasing an additional 142,653 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.