Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $710.20.

A number of analysts recently commented on the stock. UBS Group reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Friday, July 31st. Citigroup began coverage on shares of Madrigal Pharmaceuticals in a report on Wednesday, September 23rd. They issued a “buy” rating and a $725.00 target price for the company. Barclays reduced their price target on shares of Madrigal Pharmaceuticals from $964.00 to $962.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, June 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 17th.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $499.71 on Friday. The company has a market cap of $11.54 billion, a P/E ratio of -38.77 and a beta of -1.04. Madrigal Pharmaceuticals has a one year low of $393.61 and a one year high of $615.00. The business has a fifty day moving average of $524.09 and a two-hundred day moving average of $516.36. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.94 and a current ratio of 3.20.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.68) by $0.69. The business had revenue of $364.25 million for the quarter, compared to analysts’ expectations of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The business’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.90) EPS. As a group, analysts predict that Madrigal Pharmaceuticals will post -7.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 664 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $514.97, for a total value of $341,940.08. Following the sale, the general counsel owned 11,474 shares of the company’s stock, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Sibold sold 6,362 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $535.59, for a total value of $3,407,423.58. Following the completion of the transaction, the chief executive officer owned 202,967 shares of the company’s stock, valued at approximately $108,707,095.53. This represents a 3.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 12,247 shares of company stock valued at $6,581,182. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in MDGL. Concurrent Investment Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 2.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,034 shares of the biopharmaceutical company’s stock valued at $555,000 after purchasing an additional 20 shares in the last quarter. GAMMA Investing LLC increased its stake in Madrigal Pharmaceuticals by 35.4% during the 2nd quarter. GAMMA Investing LLC now owns 172 shares of the biopharmaceutical company’s stock worth $92,000 after buying an additional 45 shares during the period. Persistent Asset Partners Ltd acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter worth $29,000. Arizona State Retirement System lifted its holdings in Madrigal Pharmaceuticals by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 4,114 shares of the biopharmaceutical company’s stock worth $2,209,000 after buying an additional 60 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Madrigal Pharmaceuticals in the 2nd quarter worth $34,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for chronic liver diseases. The company’s primary focus is metabolic dysfunction-associated steatohepatitis (MASH), a progressive form of fatty liver disease that can lead to significant liver fibrosis, cirrhosis and other complications.

Madrigal’s lead product, Rezdiffra (resmetirom), is an oral thyroid hormone receptor beta agonist. In 2024, the U.S. Food and Drug Administration approved Rezdiffra for use with diet and exercise to treat adults with noncirrhotic MASH accompanied by moderate to advanced liver fibrosis.