Madrigal Pharmaceuticals’ (MDGL) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research note released on Friday morning,Benzinga reports. They currently have a $427.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on MDGL. Oppenheimer cut their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. B. Riley upped their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $338.91 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market cap of $7.39 billion, a PE ratio of -13.51 and a beta of -0.36. Madrigal Pharmaceuticals has a 1 year low of $168.25 and a 1 year high of $368.29. The stock has a fifty day moving average price of $320.07 and a 200 day moving average price of $272.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) earnings per share. Sell-side analysts forecast that Madrigal Pharmaceuticals will post -23.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. The trade was a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock worth $3,830,836 over the last three months. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares in the last quarter. Quest Partners LLC grew its holdings in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 209 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in Madrigal Pharmaceuticals during the 2nd quarter worth $163,000. Amalgamated Bank lifted its holdings in Madrigal Pharmaceuticals by 20.2% in the 2nd quarter. Amalgamated Bank now owns 607 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 102 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Madrigal Pharmaceuticals in the 2nd quarter valued at about $204,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.