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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $687.9286.

A number of research firms have recently commented on MDGL. Bank of America dropped their target price on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Truist Financial upped their price objective on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company raised shares of Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday, June 1st. Canaccord Genuity Group cut their target price on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, June 1st.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $495.74, for a total value of $516,561.08. Following the completion of the transaction, the insider owned 10,033 shares of the company’s stock, valued at $4,973,759.42. This represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the completion of the transaction, the director owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This represents a 20.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC acquired a new stake in Madrigal Pharmaceuticals during the 4th quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $36,000. Kemnay Advisory Services Inc. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at $39,000. Quarry LP bought a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $39,000. Finally, Eastern Bank lifted its holdings in shares of Madrigal Pharmaceuticals by 32.3% during the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 21 shares during the period. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded down $23.31 during trading on Friday, reaching $536.70. 294,013 shares of the company’s stock were exchanged, compared to its average volume of 407,285. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. Madrigal Pharmaceuticals has a 1-year low of $286.44 and a 1-year high of $615.00. The company has a market cap of $12.37 billion, a P/E ratio of -41.93 and a beta of -1.05. The firm’s 50-day moving average price is $511.48 and its 200 day moving average price is $503.93.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. During the same period last year, the firm posted ($3.32) earnings per share. Madrigal Pharmaceuticals’s revenue was up 126.8% compared to the same quarter last year. As a group, research analysts anticipate that Madrigal Pharmaceuticals will post -7.3 earnings per share for the current 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.