Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns "Market Outperform" Rating from JMP Securities

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report)'s stock had its "market outperform" rating reissued by JMP Securities in a research note issued to investors on Friday,Benzinga reports. They presently have a $427.00 price objective on the biopharmaceutical company's stock. JMP Securities' target price would suggest a potential upside of 25.99% from the stock's previous close.

Several other research analysts have also issued reports on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. B. Riley increased their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright reiterated a "buy" rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Finally, UBS Group boosted their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Madrigal Pharmaceuticals Price Performance

Shares of Madrigal Pharmaceuticals stock traded up $5.52 during trading on Friday, reaching $338.91. The company's stock had a trading volume of 449,228 shares, compared to its average volume of 296,855. The stock has a 50-day moving average price of $320.07 and a two-hundred day moving average price of $272.56. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a one year low of $168.25 and a one year high of $368.29. The stock has a market capitalization of $7.39 billion, a P/E ratio of -13.51 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -23.77 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now owns 11,012 shares of the company's stock, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $3,830,836 over the last three months. Corporate insiders own 22.80% of the company's stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its position in shares of Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after acquiring an additional 31 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock valued at $486,000 after acquiring an additional 40 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 68 shares during the last quarter. Creative Planning increased its position in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after acquiring an additional 87 shares during the last quarter. Finally, Verity Asset Management Inc. increased its position in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Verity Asset Management Inc. now owns 1,466 shares of the biopharmaceutical company's stock valued at $311,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

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.