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

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

MDGL has been the topic of a number of other research reports. Cantor Fitzgerald reissued a neutral rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Evercore ISI decreased their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Wolfe Research began coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an outperform rating and a $382.00 price target for the company. Citigroup reduced their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating on the stock in a report on Thursday, August 8th. Finally, 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $343.83.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $208.41 on Wednesday. The stock has a market capitalization of $4.44 billion, a P/E ratio of -9.03 and a beta of -0.44. 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 has a 50 day moving average of $242.09 and a 200-day moving average of $246.83.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. The company’s revenue for the quarter was up 146280.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.69) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -27.67 EPS for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Madrigal Pharmaceuticals by 1,633.3% during the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares in the last quarter. Signaturefd LLC raised its stake in 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 buying an additional 39 shares during the period. EntryPoint Capital LLC bought a new position in Madrigal Pharmaceuticals during the first quarter worth about $41,000. UMB Bank n.a. acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at about $53,000. Finally, Quest Partners LLC increased its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

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.