Madrigal Pharmaceuticals (NASDAQ:MDGL) Coverage Initiated by Analysts at Barclays

Stock analysts at Barclays initiated 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 indicates a potential upside of 94.14% from the company’s previous close.

MDGL has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, January 22nd. Oppenheimer upped their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Wolfe Research set a $579.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 6th. UBS Group set a $900.00 price objective on Madrigal Pharmaceuticals in a report on Friday, December 19th. Finally, Cantor Fitzgerald upgraded Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $654.73.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $496.54 on Tuesday. Madrigal Pharmaceuticals has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a quick ratio of 3.26, a current ratio of 3.44 and a debt-to-equity ratio of 0.54. The company has a market cap of $11.28 billion, a P/E ratio of -38.17, a price-to-earnings-growth ratio of 4.94 and a beta of -1.00. The business’s fifty day moving average is $555.71 and its 200-day moving average is $463.17.

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

Insider Buying and Selling

In related news, General Counsel Shannon T. Kelley sold 692 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $497.36, for a total transaction of $344,173.12. Following the transaction, the general counsel directly owned 8,481 shares of the company’s stock, valued at approximately $4,218,110.16. The trade was a 7.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carole Huntsman sold 910 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $493.78, for a total transaction of $449,339.80. Following the completion of the transaction, the insider directly owned 9,122 shares in the company, valued at $4,504,261.16. The trade was a 9.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 126,570 shares of company stock valued at $67,024,124. Insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in Madrigal Pharmaceuticals by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 3,860 shares of the biopharmaceutical company’s stock worth $1,168,000 after purchasing an additional 338 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Madrigal Pharmaceuticals by 388.3% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,288 shares of the biopharmaceutical company’s stock worth $7,012,000 after buying an additional 12,157 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 16.3% during the 3rd quarter. Voya Investment Management LLC now owns 59,437 shares of the biopharmaceutical company’s stock worth $27,261,000 after buying an additional 8,347 shares during the last quarter. Calamos Advisors LLC bought a new position in Madrigal Pharmaceuticals in the third quarter valued at about $2,057,000. Finally, Marex Group plc acquired a new position in Madrigal Pharmaceuticals during the second quarter worth about $548,000. Institutional investors 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-? agonist in Phase 3 development for the treatment of NASH.