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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $377.40.

Several equities analysts have recently issued reports on MDGL shares. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday. B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $155.00 to $270.00 in a research report on Friday, March 15th. Oppenheimer boosted their target price on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. UBS Group boosted their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $336.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares in the company, valued at approximately $2,651,529.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Rebecca Taub sold 27,845 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $245.14, for a total transaction of $6,825,923.30. Following the completion of the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $112,519,014.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the transaction, the director now owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The disclosure for this sale can be found here. Insiders sold a total of 146,496 shares of company stock worth $31,362,420 in the last three months. 23.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDGL. Paulson & CO. Inc. grew its stake in shares of Madrigal Pharmaceuticals by 121.1% during the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after acquiring an additional 605,741 shares during the period. RTW Investments LP boosted its stake in Madrigal Pharmaceuticals by 163.4% in the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after purchasing an additional 505,706 shares during the period. Alliancebernstein L.P. boosted its stake in Madrigal Pharmaceuticals by 1,468.0% in the 2nd quarter. Alliancebernstein L.P. now owns 371,116 shares of the biopharmaceutical company’s stock worth $85,728,000 after purchasing an additional 347,448 shares during the period. Federated Hermes Inc. bought a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $33,616,000. Finally, Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 21.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after purchasing an additional 333,888 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $245.27 on Friday. The stock has a 50-day moving average price of $241.39 and a 200-day moving average price of $206.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The firm has a market cap of $4.88 billion, a PE ratio of -12.30 and a beta of -0.47. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $322.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period in the previous year, the firm earned ($4.98) earnings per share. Sell-side analysts predict that Madrigal Pharmaceuticals will post -21.48 earnings per share for the current fiscal year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.