Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded at StockNews.com

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

Several other equities research analysts have also weighed in on MDGL. Cantor Fitzgerald restated a neutral rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. JMP Securities upped their price objective on shares of 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 target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating on the stock in a report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They set an outperform rating and a $382.00 price target for the company. Finally, Evercore ISI dropped their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $343.83.

Madrigal Pharmaceuticals Stock Up 0.9 %

Madrigal Pharmaceuticals stock opened at $208.41 on Wednesday. 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 1-year low of $119.76 and a 1-year high of $299.98. The firm’s fifty day simple moving average is $242.09 and its 200-day simple moving average is $246.83. The company has a market capitalization of $4.44 billion, a P/E ratio of -9.03 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, beating the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter last year, the business earned ($4.69) earnings per share. Madrigal Pharmaceuticals’s quarterly revenue was up 146280.0% on a year-over-year basis. Sell-side analysts forecast that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.92% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Paulson & CO. Inc. raised its position 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 worth $255,846,000 after purchasing an additional 605,741 shares in the last quarter. Rheos Capital Works Inc. acquired a new position in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $29,432,000. AMI Asset Management Corp lifted its position in shares of Madrigal Pharmaceuticals by 101.5% during the 1st quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock worth $2,568,000 after buying an additional 4,845 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $16,059,000. Finally, TD Asset Management Inc bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $3,596,000. 98.50% of the stock is owned by institutional investors.

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.