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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $351.67.

Several equities analysts have commented on the stock. Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. HC Wainwright upped their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, B. Riley boosted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th.

Madrigal Pharmaceuticals Stock Up 0.7 %

MDGL opened at $332.72 on Friday. Madrigal Pharmaceuticals has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The company’s 50-day moving average is $314.39 and its 200 day moving average is $277.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.

Insider Activity at Madrigal Pharmaceuticals

In related news, insider Carole Huntsman sold 347 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $116,328.28. Following the completion of the transaction, the insider now owns 10,438 shares of the company’s stock, valued at approximately $3,499,235.12. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 442 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the sale, the vice president now directly owns 5,058 shares in the company, valued at $1,382,907.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,090 shares of company stock worth $3,883,621. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Braidwell LP bought a new stake in Madrigal Pharmaceuticals during the third quarter valued at $39,010,000. Eagle Asset Management Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $6,875,000. Intech Investment Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $1,280,000. Vestal Point Capital LP purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter worth about $6,367,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $393,000. 98.50% of the stock is currently owned by hedge funds and other 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.