Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research note issued to investors on Tuesday morning, Benzinga reports.

Several other brokerages have also recently commented on MDGL. Citigroup decreased their target price on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Bank of America started coverage on Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an underperform rating and a $150.00 target price on the stock. HC Wainwright decreased their price target on Madrigal Pharmaceuticals from $425.00 to $390.00 and set a buy rating on the stock in a report on Wednesday, May 8th. B. Riley decreased their price target on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a neutral rating on the stock in a report on Friday, May 10th. Finally, Wolfe Research started coverage on Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an outperform rating and a $382.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $348.50.

Madrigal Pharmaceuticals Trading Up 0.5 %

Shares of MDGL stock opened at $283.46 on Tuesday. The stock’s fifty day moving average is $264.94 and its 200-day moving average is $243.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the prior year, the company posted ($4.23) earnings per share. As a group, sell-side analysts forecast that Madrigal Pharmaceuticals will post -27.7 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 2,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total value of $570,000.00. Following the transaction, the vice president now owns 5,500 shares of the company’s stock, valued at $1,567,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Fred B. Craves sold 22,489 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the sale, the director now owns 413,362 shares of the company’s stock, valued at $87,996,502.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert E. Waltermire sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total value of $570,000.00. Following the sale, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,567,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,425 shares of company stock valued at $6,129,127. 23.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently modified their holdings of MDGL. First Horizon Advisors Inc. raised its position in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the period. Global Retirement Partners LLC raised 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 during the period. EntryPoint Capital LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $41,000. UMB Bank n.a. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $53,000. Finally, BNP Paribas acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $68,000. 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.