Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Average Recommendation of "Moderate Buy" by Analysts

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $378.44.

Several equities analysts have recently weighed in on MDGL shares. Citigroup lifted their price objective on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and raised their target price for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded down $6.12 on Thursday, hitting $301.66. The company's stock had a trading volume of 238,598 shares, compared to its average volume of 393,287. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a 50 day moving average of $329.57 and a 200-day moving average of $305.88. Madrigal Pharmaceuticals has a 12-month low of $189.00 and a 12-month high of $377.46. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -12.03 and a beta of -0.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to analysts' expectations of $97.81 million. As a group, research analysts predict that Madrigal Pharmaceuticals will post -23.47 EPS for the current year.

Insider Buying and Selling

In other news, VP Robert E. Waltermire sold 14,113 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at approximately $1,272,440.96. This represents a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Daly sold 15,470 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,492 shares of company stock worth $11,509,707. Corporate insiders own 22.80% of the company's stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Madrigal Pharmaceuticals by 825.0% in the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 99 shares during the last quarter. GAMMA Investing LLC increased its position in Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 67 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $70,000. Parallel Advisors LLC boosted its position in Madrigal Pharmaceuticals by 42.7% during the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 85 shares during the period. Finally, Kozak & Associates Inc. bought a new position in shares of Madrigal Pharmaceuticals in the first quarter worth $104,000. Institutional investors own 98.50% of the company's stock.

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.