Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $343.83.
MDGL has been the topic of several research reports. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, July 19th. Citigroup dropped their target price 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. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. 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. Finally, B. Riley reduced their price objective 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.
Read Our Latest Stock Analysis on MDGL
Madrigal Pharmaceuticals Stock Performance
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same period in the previous year, the business posted ($4.69) earnings per share. The business’s revenue for the quarter was up 146280.0% compared to the same quarter last year. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post -27.54 EPS for the current year.
Insider Activity
In related news, VP Robert E. Waltermire sold 1,900 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total transaction of $570,000.00. Following the completion of the transaction, the vice president now owns 5,500 shares in the company, valued at approximately $1,567,500. The disclosure for this sale can be found here. Insiders sold 4,936 shares of company stock worth $1,341,668 over the last quarter. Corporate insiders own 23.92% of the company’s stock.
Institutional Trading of Madrigal Pharmaceuticals
A number of institutional investors have recently bought and sold shares of MDGL. Signaturefd LLC raised its stake in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares in the last quarter. Amalgamated Bank lifted its stake in 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 acquiring an additional 57 shares during the last quarter. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. Dana Investment Advisors Inc. grew its position in Madrigal Pharmaceuticals by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock worth $734,000 after acquiring an additional 124 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Madrigal Pharmaceuticals by 5.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock worth $631,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.
About Madrigal Pharmaceuticals
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.
Further Reading
- Five stocks we like better than Madrigal Pharmaceuticals
- The How And Why of Investing in Oil Stocks
- Brinker International’s Price Dip is an Appetizing Entry Point
- 3 Tickers Leading a Meme Stock Revival
- 3 Stocks That Could Beat the September Blues
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Canopy Growth Stock: Can It Sustain Recent Gains?
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.