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

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

A number of other research analysts also recently commented on the stock. 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 report on Thursday, August 8th. JMP Securities lifted their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a market outperform rating in a report on Tuesday, July 16th. 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. Cantor Fitzgerald reiterated a neutral rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Finally, Wolfe Research started coverage on Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They issued an outperform rating and a $382.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $343.83.

Madrigal Pharmaceuticals Stock Performance

MDGL opened at $208.41 on Wednesday. The business’s 50-day simple moving average is $242.09 and its 200 day simple moving average is $246.70. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $299.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. The firm has a market capitalization of $4.52 billion, a PE ratio of -9.03 and a beta of -0.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced 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 company had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter in the prior year, the company earned ($4.69) EPS. The company’s revenue for the quarter was up 146280.0% on a year-over-year basis. As a group, sell-side analysts expect that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the company’s 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 transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.92% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Paulson & CO. Inc. raised its position in shares of 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 buying an additional 605,741 shares in the last quarter. Rheos Capital Works Inc. acquired a new position in Madrigal Pharmaceuticals in the 1st quarter valued at $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 valued at $2,568,000 after acquiring an additional 4,845 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $16,059,000. Finally, TD Asset Management Inc bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth $3,596,000. 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.