Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) was upgraded by equities researchers at StockNews.com to a “sell” rating in a note issued to investors on Wednesday.
Other equities research analysts have also issued research reports about the stock. Evercore ISI cut their price target on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Citigroup reduced their price target 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. Finally, JMP Securities increased their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $343.83.
Check Out Our Latest Stock Report on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Stock Down 1.2 %
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued 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 business had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. The company’s quarterly revenue was up 146280.0% on a year-over-year basis. During the same quarter last year, the business posted ($4.69) EPS. As a group, equities analysts expect that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was 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 of the company’s stock, valued at $13,626,927.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.92% of the company’s stock.
Institutional Trading of Madrigal Pharmaceuticals
Several hedge funds have recently made changes to their positions in MDGL. Paulson & CO. Inc. increased its position in Madrigal Pharmaceuticals by 121.1% during the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after acquiring an additional 605,741 shares during the last quarter. Rheos Capital Works Inc. purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth about $29,432,000. AMI Asset Management Corp lifted its stake in Madrigal Pharmaceuticals by 101.5% in the first quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock worth $2,568,000 after purchasing an additional 4,845 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $16,059,000. Finally, TD Asset Management Inc bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at approximately $3,596,000. 98.50% of the stock is currently owned by hedge funds and other 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.
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