Madrigal Pharmaceuticals’ (MDGL) Neutral Rating Reiterated at Cantor Fitzgerald

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

Other analysts have also recently issued research reports about the company. B. Riley boosted their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Evercore ISI dropped their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Oppenheimer decreased their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $347.45 on Wednesday. The company has a 50-day simple moving average of $250.25 and a 200-day simple moving average of $253.60. 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 company has a market cap of $7.58 billion, a PE ratio of -13.08 and a beta of -0.46. Madrigal Pharmaceuticals has a 12 month low of $168.25 and a 12 month high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The company 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 business earned ($5.34) EPS. On average, equities analysts anticipate that Madrigal Pharmaceuticals will post -24.08 earnings per share for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in MDGL. Russell Investments Group Ltd. acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter worth about $1,466,000. Vanguard Group Inc. grew its holdings in Madrigal Pharmaceuticals by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after buying an additional 94,064 shares in the last quarter. Pitcairn Co. bought a new position in Madrigal Pharmaceuticals in the 1st quarter worth approximately $269,000. EntryPoint Capital LLC acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at approximately $41,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at $961,000. 98.50% of the stock is currently owned by institutional investors.

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.