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

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

A number of other research analysts also recently issued reports on MDGL. Bank of America assumed coverage on Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an underperform rating and a $150.00 price objective for the company. JMP Securities increased their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a market outperform rating in a report on Tuesday, July 16th. Citigroup decreased their price objective on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a buy rating for the company in a report on Wednesday, May 8th. HC Wainwright decreased their price objective on Madrigal Pharmaceuticals from $425.00 to $390.00 and set a buy rating for the company in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald assumed coverage on Madrigal Pharmaceuticals in a report on Friday, June 28th. They set a neutral rating for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $348.50.

Madrigal Pharmaceuticals Stock Up 2.9 %

Shares of Madrigal Pharmaceuticals stock opened at $287.24 on Friday. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $299.98. The business has a 50-day moving average of $259.32 and a two-hundred day moving average of $242.09. The company has a market capitalization of $6.12 billion, a P/E ratio of -12.44 and a beta of -0.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.39 and a quick ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period in the prior year, the company posted ($4.23) earnings per share. As a group, equities analysts predict that Madrigal Pharmaceuticals will post -27.7 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 5,500 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 1,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 5,500 shares in the company, valued at $1,540,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert E. Waltermire sold 1,036 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total value of $239,668.24. Following the completion of the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,272,370. The disclosure for this sale can be found here. Insiders sold a total of 27,425 shares of company stock worth $6,129,127 over the last ninety days. 23.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in MDGL. Paulson & CO. Inc. lifted 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 during the last quarter. RTW Investments LP lifted its position in shares of Madrigal Pharmaceuticals by 163.4% in the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after buying an additional 505,706 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Madrigal Pharmaceuticals by 106.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock valued at $214,491,000 after buying an additional 414,484 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 21.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock valued at $437,051,000 after buying an additional 333,888 shares during the last quarter. Finally, Bain Capital Life Sciences Investors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $75,110,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.