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

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

MDGL has been the subject of several other reports. Evercore ISI reduced their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating for the company in a report on Thursday, August 8th. JMP Securities lifted their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a market outperform rating in a research note on Tuesday, July 16th. 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 on the stock. Cantor Fitzgerald reaffirmed a neutral rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Finally, 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 report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $343.83.

Madrigal Pharmaceuticals Stock Down 1.1 %

MDGL stock opened at $233.00 on Monday. The company has a 50 day moving average of $262.27 and a two-hundred day moving average of $250.50. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -10.09 and a beta of -0.43. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. 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 (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to analyst estimates of $4.25 million. The company’s revenue was up 146280.0% compared to the same quarter last year. During the same period last year, the company posted ($4.69) earnings per share. On average, equities analysts anticipate that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Robert E. Waltermire sold 1,900 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction 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 approximately $1,540,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The transaction was disclosed in a document filed 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 dated Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,540,000. The disclosure for this sale can be found here. 23.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $294,000. Dana Investment Advisors Inc. raised its stake in shares of Madrigal Pharmaceuticals by 13.4% in the second quarter. Dana Investment Advisors Inc. now owns 3,713 shares of the biopharmaceutical company’s stock valued at $1,040,000 after purchasing an additional 438 shares in the last quarter. Truist Financial Corp bought a new position in Madrigal Pharmaceuticals in the second quarter worth $216,000. Point72 Asset Management L.P. boosted its stake in Madrigal Pharmaceuticals by 172.6% during the second quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after buying an additional 97,387 shares in the last quarter. Finally, Creative Planning increased its holdings in Madrigal Pharmaceuticals by 20.0% in the 2nd quarter. Creative Planning now owns 3,212 shares of the biopharmaceutical company’s stock valued at $900,000 after buying an additional 535 shares during the period. 98.50% of the stock is currently owned by 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.