Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) in a report issued on Tuesday morning, Benzinga reports.

A number of other equities analysts also recently issued reports on the stock. Bank of America initiated coverage on shares of Madrigal Pharmaceuticals in a report on Monday, April 22nd. They issued an underperform rating and a $150.00 price target for the company. JMP Securities raised their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a market outperform rating in a report on Tuesday, July 16th. HC Wainwright dropped their target price on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a buy rating for the company in a report on Wednesday, May 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a sell rating in a report on Friday, July 19th. Finally, B. Riley dropped their target price on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a neutral rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $348.50.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $283.46 on Tuesday. The company has a 50-day simple moving average of $264.94 and a 200-day simple moving average of $243.55. The company has a current ratio of 9.39, a quick ratio of 9.39 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter last year, the firm posted ($4.23) EPS. On average, analysts predict that Madrigal Pharmaceuticals will post -27.7 earnings per share for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,272,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Fred B. Craves sold 22,489 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total value of $4,787,458.32. Following the sale, the director now directly owns 413,362 shares of the company’s stock, valued at $87,996,502.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the sale, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The disclosure for this sale can be found here. Insiders have sold 27,425 shares of company stock valued at $6,129,127 in the last ninety days. Insiders own 23.92% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth approximately $41,000. UMB Bank n.a. acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth approximately $53,000. Finally, BNP Paribas acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth approximately $68,000. 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.