Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Given Consensus Rating of “Buy” by Analysts

Shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) have been assigned a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $165.11.

A number of equities research analysts have weighed in on MDGL shares. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. Canaccord Genuity reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, August 27th. Oppenheimer reissued a “buy” rating and issued a $200.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, August 6th. BidaskClub raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 17th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $114.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, August 6th.

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $109.74, for a total value of $3,292,200.00. Following the sale, the director now owns 281,683 shares of the company’s stock, valued at $30,911,892.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bay City Capital Llc sold 7,303 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $107.64, for a total value of $786,094.92. The disclosure for this sale can be found here. Insiders have sold 49,803 shares of company stock worth $5,462,420 in the last ninety days. 41.89% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its holdings in Madrigal Pharmaceuticals by 14.6% in the second quarter. Ameritas Investment Partners Inc. now owns 787 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 100 shares during the last quarter. Mackay Shields LLC grew its holdings in Madrigal Pharmaceuticals by 1.7% in the second quarter. Mackay Shields LLC now owns 12,128 shares of the biopharmaceutical company’s stock valued at $1,374,000 after purchasing an additional 200 shares during the last quarter. Altshuler Shaham Ltd lifted its position in shares of Madrigal Pharmaceuticals by 2.7% in the first quarter. Altshuler Shaham Ltd now owns 7,655 shares of the biopharmaceutical company’s stock valued at $511,000 after acquiring an additional 203 shares in the last quarter. Liberty One Investment Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at $26,000. Finally, Great West Life Assurance Co. Can lifted its position in shares of Madrigal Pharmaceuticals by 54.7% in the second quarter. Great West Life Assurance Co. Can now owns 809 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 286 shares in the last quarter. 72.04% of the stock is currently owned by institutional investors.

NASDAQ MDGL traded up $3.14 on Tuesday, reaching $124.21. The stock had a trading volume of 146,626 shares, compared to its average volume of 171,277. Madrigal Pharmaceuticals has a 12-month low of $56.82 and a 12-month high of $127.25. The business’s 50-day moving average price is $107.60 and its 200 day moving average price is $99.05. The stock has a market cap of $1.92 billion, a P/E ratio of -14.26 and a beta of 1.16.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($3.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.43) by ($0.75). During the same quarter in the prior year, the firm posted ($1.28) earnings per share. On average, equities research analysts anticipate that Madrigal Pharmaceuticals will post -12.33 EPS for the current year.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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