Madrigal Pharmaceuticals (NASDAQ:MDGL) Shares Up 7.1% – Time to Buy?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shares rose 7.1% during mid-day trading on Wednesday . The company traded as high as $481.80 and last traded at $484.9990. Approximately 161,769 shares changed hands during trading, a decline of 52% from the average daily volume of 339,741 shares. The stock had previously closed at $452.86.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MDGL. Wells Fargo & Company raised Madrigal Pharmaceuticals to an “overweight” rating in a research note on Monday. Bank of America decreased their price objective on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Citigroup reiterated a “market outperform” rating on shares of Madrigal Pharmaceuticals in a report on Monday. HC Wainwright reissued a “buy” rating and set a $620.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group decreased their price target on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $687.00.

Madrigal Pharmaceuticals Trading Down 0.2%

The company has a current ratio of 3.50, a quick ratio of 3.16 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $11.33 billion, a P/E ratio of -38.28 and a beta of -1.07. The business has a 50 day moving average of $516.40 and a 200-day moving average of $514.12.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, insider David Soergel sold 1,042 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the sale, the insider directly owned 10,033 shares of the company’s stock, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard S. Levy sold 5,682 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the completion of the transaction, the director directly owned 22,015 shares of the company’s stock, valued at approximately $11,347,411.60. The trade was a 20.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,568 shares of company stock worth $3,880,711 over the last ninety days. 17.60% of the stock is currently owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the company. 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 in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $26,776,000. Toth Financial Advisory Corp bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $1,165,000. Peak Financial Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 287.0% in the fourth quarter. Peak Financial Advisors LLC now owns 4,466 shares of the biopharmaceutical company’s stock valued at $2,601,000 after buying an additional 3,312 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth $3,843,000. 98.50% of the stock is currently owned by institutional investors.

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.