Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) to a sell rating in a research note published on Friday morning.

A number of other equities research analysts also recently weighed in on the company. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a market outperform rating in a report on Tuesday, July 16th. Citigroup dropped their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating for the company in a research note on Thursday, August 8th. Evercore ISI decreased their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They issued an outperform rating and a $382.00 price target for the company. Finally, Cantor Fitzgerald reissued a neutral rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $343.83.

Madrigal Pharmaceuticals Stock Down 3.6 %

Shares of MDGL opened at $233.49 on Friday. The firm has a market cap of $5.07 billion, a P/E ratio of -10.11 and a beta of -0.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98. The firm’s 50-day simple moving average is $255.47 and its 200 day simple moving average is $250.09.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to analyst estimates of $4.25 million. Madrigal Pharmaceuticals’s revenue for the quarter was up 146280.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.69) EPS. On average, analysts forecast that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhenman & Partners Asset Management AB acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $5,206,000. Norges Bank bought a new stake in Madrigal Pharmaceuticals during the 4th quarter worth $33,686,000. Paulson & CO. Inc. increased its holdings in Madrigal Pharmaceuticals by 121.1% in the 4th quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after purchasing an additional 605,741 shares in the last quarter. Rheos Capital Works Inc. bought a new position in Madrigal Pharmaceuticals in the first quarter valued at about $29,432,000. Finally, AMI Asset Management Corp boosted its stake in shares of Madrigal Pharmaceuticals by 101.5% during the first quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock valued at $2,568,000 after purchasing an additional 4,845 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

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.