Madrigal Pharmaceuticals Inc (NASDAQ: MDGL): Reassessing Prospects

Madrigal Pharmaceuticals Inc (MDGL) concluded trading on Thursday at a closing price of $267.04, with 0.44 million shares of worth about $117.78 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 76.29% during that period and on March 28, 2024 the price saw a gain of about 3.18%. Currently the company’s common shares owned by public are about 19.88M shares, out of which, 16.16M shares are available for trading.

Stock saw a price change of 4.61% in past 5 days and over the past one month there was a price change of 5.04%. Year-to-date (YTD), MDGL shares are showing a performance of 15.41% which increased to 10.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $119.76 but also hit the highest price of $322.67 during that period. The average intraday trading volume for Madrigal Pharmaceuticals Inc shares is 562.63K. The stock is currently trading 4.28% above its 20-day simple moving average (SMA20), while that difference is up 13.12% for SMA50 and it goes to 32.34% higher than SMA200.

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Madrigal Pharmaceuticals Inc (NASDAQ: MDGL) currently have 19.88M outstanding shares and institutions hold larger chunk of about 93.67% of that.

The stock has a current market capitalization of $5.31B and its 3Y-monthly beta is at -0.47. It has posted earnings per share of -$19.94 in the same period. It has Quick Ratio of 5.38 while making debt-to-equity ratio of 0.29. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MDGL, volatility over the week remained 5.06% while standing at 6.59% over the month.

Analysts are in expectations that Madrigal Pharmaceuticals Inc (MDGL) stock would likely to be making an EPS of -$6.3 in the current quarter, while forecast for next quarter EPS is -$6.62 and it is -$14.46 for next year. For the current quarter EPS, analysts have given the company a lowest target -$7.34 which is -$4.86 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$4.23 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -16.32% while it is estimated to increase by 39.20% in next year. EPS is likely to grow at an annualized rate of 0.00% for next 5-years, compared to annual growth of -55.24% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on March 15, 2024 offering a Neutral rating for the stock and assigned a target price range of between $155 and $270 to it. Coverage by Citigroup stated Madrigal Pharmaceuticals Inc (MDGL) stock as a Buy in their note to investors on March 06, 2024, suggesting a price target of $382 for the stock. On February 26, 2024, B. Riley Securities Downgrade their recommendations, while on December 20, 2022, Oppenheimer Reiterated their ratings for the stock with a price target of $250. Stock get a Mkt perform rating from Raymond James on December 19, 2022.

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