Wolfe Research Begins Coverage on Madrigal Pharmaceuticals (NASDAQ:MDGL)

Wolfe Research assumed coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGLFree Report) in a research report released on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $382.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on MDGL. B. Riley decreased their price target on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a neutral rating for the company in a research note on Friday, May 10th. Oppenheimer increased their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an outperform rating in a research note on Friday, March 15th. Canaccord Genuity Group increased their price target on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a buy rating in a research note on Friday, March 15th. JMP Securities decreased their price target on Madrigal Pharmaceuticals from $397.00 to $381.00 and set a market outperform rating for the company in a research note on Wednesday, May 8th. Finally, TD Cowen lifted their target price on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an outperform rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $348.17.

Get Our Latest Analysis on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Price Performance

MDGL opened at $277.02 on Tuesday. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $229.15 and its 200-day simple moving average is $231.72. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of -12.00 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter in the prior year, the company earned ($4.23) earnings per share. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post -27.62 earnings per share for the current fiscal year.

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 that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Richard S. Levy sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert E. Waltermire sold 1,036 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the completion of the sale, the vice president now owns 5,500 shares of the company’s stock, valued at $1,272,370. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,021 shares of company stock valued at $36,389,547. 23.92% of the stock is owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank increased its position in shares of Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock valued at $490,000 after buying an additional 57 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Dana Investment Advisors Inc. increased its position in shares of Madrigal Pharmaceuticals by 4.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock worth $734,000 after purchasing an additional 124 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Madrigal Pharmaceuticals by 3.3% during the first quarter. Principal Financial Group Inc. now owns 4,002 shares of the biopharmaceutical company’s stock worth $1,069,000 after purchasing an additional 127 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 134 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

(Get Free Report)

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.

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