Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Rating Upgraded by StockNews.com

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by stock analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts also recently issued reports on MDGL. Evercore ISI reduced their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JMP Securities increased their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Citigroup dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, Wolfe Research assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price on the stock. Two investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $343.83.

Madrigal Pharmaceuticals Trading Down 1.2 %

Shares of NASDAQ:MDGL opened at $206.58 on Wednesday. The company has a market capitalization of $4.48 billion, a PE ratio of -8.95 and a beta of -0.43. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. The business’s fifty day simple moving average is $243.61 and its 200-day simple moving average is $247.35.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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 during the quarter, compared to the consensus estimate of $4.25 million. During the same quarter in the prior year, the firm posted ($4.69) earnings per share. The business’s revenue for the quarter was up 146280.0% compared to the same quarter last year. As a group, equities research analysts predict that Madrigal Pharmaceuticals will post -27.67 earnings per share 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 business’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.92% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of MDGL. Paulson & CO. Inc. grew its holdings in Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after purchasing an additional 605,741 shares during the period. Rheos Capital Works Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at approximately $29,432,000. AMI Asset Management Corp grew its stake in Madrigal Pharmaceuticals by 101.5% in the 1st quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock valued at $2,568,000 after acquiring an additional 4,845 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter worth $16,059,000. Finally, TD Asset Management Inc acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth $3,596,000. Hedge funds and other institutional investors 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.