Barclays Initiates Coverage on Madrigal Pharmaceuticals (NASDAQ:MDGL)

Barclays began coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a research note issued on Tuesday, Marketbeat reports. The firm set an “overweight” rating and a $964.00 price target on the biopharmaceutical company’s stock. Barclays‘s price target points to a potential upside of 92.59% from the stock’s previous close.

Several other analysts also recently weighed in on MDGL. The Goldman Sachs Group restated a “buy” rating and issued a $571.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 14th. UBS Group set a $900.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, December 19th. Oppenheimer boosted their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Citizens Jmp boosted their price objective on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 20th. Finally, Wolfe Research set a $579.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $654.73.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL traded up $4.01 during trading hours on Tuesday, hitting $500.55. The stock had a trading volume of 89,720 shares, compared to its average volume of 333,335. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of -38.32, a P/E/G ratio of 4.94 and a beta of -1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.44 and a quick ratio of 3.26. The company has a 50 day simple moving average of $555.71 and a two-hundred day simple moving average of $463.17. Madrigal Pharmaceuticals has a one year low of $265.00 and a one year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 41.50% and a negative net margin of 39.04%. Research analysts forecast that Madrigal Pharmaceuticals will post -23.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Rebecca Taub sold 647 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $492.42, for a total transaction of $318,595.74. Following the completion of the transaction, the director owned 452,704 shares of the company’s stock, valued at $222,920,503.68. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 1,577 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $492.42, for a total transaction of $776,546.34. Following the completion of the sale, the chief executive officer owned 148,497 shares of the company’s stock, valued at approximately $73,122,892.74. The trade was a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 126,570 shares of company stock worth $67,024,124 in the last 90 days. 21.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC raised its holdings in Madrigal Pharmaceuticals by 412.5% during the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $29,000. Mather Group LLC. acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $33,000. Global Retirement Partners LLC lifted its position in Madrigal Pharmaceuticals by 221.7% during the 3rd quarter. Global Retirement Partners LLC now owns 74 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 51 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $34,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.