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

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

MDGL has been the topic of several other reports. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wolfe Research began coverage on Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an “outperform” rating and a $382.00 target price on the stock. Evercore ISI lowered 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. JMP Securities lifted their target price 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. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Two 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 stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $343.83.

Madrigal Pharmaceuticals Trading Down 2.1 %

Shares of Madrigal Pharmaceuticals stock traded down $5.20 on Monday, reaching $238.69. 257,443 shares of the company were exchanged, compared to its average volume of 451,372. Madrigal Pharmaceuticals has a fifty-two week low of $119.76 and a fifty-two week high of $299.98. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -10.34 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. The stock has a fifty day moving average price of $264.58 and a 200-day moving average price of $250.70.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analysts’ expectations of $4.25 million. Madrigal Pharmaceuticals’s quarterly revenue was up 146280.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($4.69) earnings per share. On average, analysts expect that Madrigal Pharmaceuticals will post -27.67 EPS for the current year.

Insider Transactions at Madrigal Pharmaceuticals

In other news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total transaction of $570,000.00. Following the completion of the transaction, the vice president now directly owns 5,500 shares in the company, valued at $1,567,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $285.00, for a total value of $570,000.00. Following the completion of the transaction, the vice president now directly owns 5,500 shares in the company, valued at $1,567,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert E. Waltermire sold 1,900 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,540,000. The disclosure for this sale can be found here. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Signaturefd LLC grew its position in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the period. Amalgamated Bank grew its position in Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock valued at $490,000 after acquiring an additional 57 shares during the period. First Horizon Advisors Inc. grew its position in Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the period. Dana Investment Advisors Inc. grew its position in Madrigal Pharmaceuticals by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock valued at $734,000 after acquiring an additional 124 shares during the period. Finally, Victory Capital Management Inc. grew its position in Madrigal Pharmaceuticals by 5.8% in the second quarter. Victory Capital Management Inc. now owns 2,252 shares of the biopharmaceutical company’s stock valued at $631,000 after acquiring an additional 124 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.