Cantor Fitzgerald Reiterates Neutral Rating for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Cantor Fitzgerald restated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports.

Other equities analysts have also recently issued reports about the stock. B. Riley raised their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. Oppenheimer cut their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. HC Wainwright restated a "buy" rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Finally, Citigroup cut their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $347.33.

Madrigal Pharmaceuticals Stock Up 0.9 %

Shares of MDGL traded up $2.92 on Wednesday, hitting $317.09. 277,156 shares of the stock traded hands, compared to its average volume of 443,773. The company has a market capitalization of $6.92 billion, a PE ratio of -12.53 and a beta of -0.46. Madrigal Pharmaceuticals has a one year low of $168.25 and a one year high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The business has a 50 day simple moving average of $246.71 and a 200 day simple moving average of $252.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts' expectations of $34.60 million. During the same period in the prior year, the company posted ($5.34) earnings per share. As a group, equities analysts forecast that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of the business's stock in a transaction on 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 in the company, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its position in Madrigal Pharmaceuticals by 2.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock worth $320,000 after purchasing an additional 31 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock valued at $41,000 after purchasing an additional 39 shares in the last quarter. Victory Capital Management Inc. grew 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 purchasing an additional 40 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 68 shares in the last quarter. Finally, Creative Planning lifted its stake in Madrigal Pharmaceuticals by 2.7% in the 3rd quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after buying an additional 87 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.