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

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received an average rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $347.33.

MDGL has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. B. Riley raised their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Citigroup decreased their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The trade was a 10.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after buying an additional 5,801 shares during the last quarter. Barclays PLC lifted its holdings in shares of Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock worth $8,549,000 after buying an additional 24,783 shares during the last quarter. Groupama Asset Managment lifted its holdings in shares of Madrigal Pharmaceuticals by 8.1% during the third quarter. Groupama Asset Managment now owns 12,837 shares of the biopharmaceutical company’s stock worth $2,724,000 after buying an additional 963 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $368,000. Finally, XTX Topco Ltd acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter worth approximately $1,036,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 5.5 %

Madrigal Pharmaceuticals stock opened at $347.45 on Monday. Madrigal Pharmaceuticals has a 12-month low of $168.25 and a 12-month high of $368.29. The firm’s 50-day moving average is $252.37 and its two-hundred day moving average is $254.63. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the business earned ($5.34) EPS. On average, equities analysts anticipate that Madrigal Pharmaceuticals will post -24.08 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

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.