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

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued to investors on Monday.

MDGL has been the topic of several other research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Wolfe Research began coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price target for the company. JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Citigroup decreased 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. Finally, Evercore ISI cut their target price 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $343.83.

Madrigal Pharmaceuticals Stock Down 1.3 %

Shares of MDGL stock opened at $235.69 on Monday. The stock has a market cap of $5.12 billion, a P/E ratio of -10.24 and a beta of -0.43. The company’s fifty day simple moving average is $263.77 and its two-hundred day simple moving average is $250.63. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (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. The business’s revenue was up 146280.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.69) EPS. Analysts predict that Madrigal Pharmaceuticals will post -27.67 EPS for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,900 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $280.00, for a total value of $532,000.00. Following the completion of the transaction, the vice president now owns 5,500 shares in the company, valued at $1,540,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.92% of the stock is owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in MDGL. First Horizon Advisors Inc. increased its holdings in Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $41,000. Signaturefd LLC raised its position in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares during the last quarter. UMB Bank n.a. purchased a new position in Madrigal Pharmaceuticals in the 1st quarter valued at about $53,000. Finally, Quest Partners LLC boosted its holdings in Madrigal Pharmaceuticals by 5,225.0% in the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other 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.