Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $654.7333.

Several equities research analysts recently commented on the company. Zacks Research downgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Barclays began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price objective on the stock. TD Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $568.00 to $620.00 and gave the company a “buy” rating in a report on Friday, November 21st. Finally, Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $464.71 on Wednesday. The company’s fifty day simple moving average is $531.66 and its 200-day simple moving average is $478.24. Madrigal Pharmaceuticals has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a current ratio of 3.44, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The company has a market cap of $10.55 billion, a PE ratio of -35.72, a P/E/G ratio of 6.60 and a beta of -1.01.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 2,400 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $575.34, for a total value of $1,380,816.00. Following the sale, the chief executive officer directly owned 150,074 shares of the company’s stock, valued at $86,343,575.16. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carole Huntsman sold 1,958 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $553.11, for a total transaction of $1,082,989.38. Following the transaction, the insider owned 10,032 shares in the company, valued at $5,548,799.52. This trade represents a 16.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 101,495 shares of company stock valued at $54,568,691 in the last three months. 21.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS grew its stake in Madrigal Pharmaceuticals by 15.4% in the second quarter. KLP Kapitalforvaltning AS now owns 3,000 shares of the biopharmaceutical company’s stock worth $908,000 after purchasing an additional 400 shares in the last quarter. TD Asset Management Inc grew its position in shares of Madrigal Pharmaceuticals by 4.5% in the 2nd quarter. TD Asset Management Inc now owns 23,240 shares of the biopharmaceutical company’s stock worth $7,033,000 after acquiring an additional 1,000 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth approximately $638,000. Mutual of America Capital Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 9.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 12,309 shares of the biopharmaceutical company’s stock valued at $3,725,000 after acquiring an additional 1,046 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Madrigal Pharmaceuticals by 16.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 969 shares of the biopharmaceutical company’s stock valued at $297,000 after acquiring an additional 134 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.