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

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by StockNews.com to a “sell” rating in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on the company. JMP Securities boosted their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. Evercore ISI lowered their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Wolfe Research assumed 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, Citigroup dropped their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $343.83.

Madrigal Pharmaceuticals Trading Down 3.6 %

NASDAQ MDGL opened at $233.49 on Friday. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98. The firm has a 50 day moving average of $255.47 and a two-hundred day moving average of $250.10. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.07 billion, a PE ratio of -10.11 and a beta of -0.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. During the same quarter in the previous year, the firm posted ($4.69) EPS. The business’s revenue for the quarter was up 146280.0% on a year-over-year basis. As a group, research analysts expect that Madrigal Pharmaceuticals will post -27.67 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. First Horizon Advisors Inc. raised its position in Madrigal Pharmaceuticals by 1,633.3% during 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. EntryPoint Capital LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at approximately $41,000. Signaturefd LLC lifted its stake in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. UMB Bank n.a. acquired a new stake in Madrigal Pharmaceuticals during the 1st quarter valued at $53,000. Finally, Quest Partners LLC increased its position in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

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.