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

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

A number of other research firms have also recently issued reports on MDGL. Citigroup cut their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating on the stock in a research report on Thursday, August 8th. JMP Securities increased their price objective on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a market outperform rating in a research report on Tuesday, July 16th. Evercore ISI cut their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reissued a neutral rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Finally, Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an outperform rating and a $382.00 price objective on the stock. 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, Madrigal Pharmaceuticals currently has an average rating of Moderate Buy and a consensus price target of $343.83.

Madrigal Pharmaceuticals Stock Performance

Shares of Madrigal Pharmaceuticals stock opened at $233.49 on Friday. 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 business has a 50-day moving average price of $255.47 and a two-hundred day moving average price of $250.05. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $299.98. The company has a market cap of $4.98 billion, a P/E ratio of -10.11 and a beta of -0.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued 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 business had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. During the same quarter in the previous year, the business posted ($4.69) earnings per share. The business’s revenue was up 146280.0% on a year-over-year basis. As a group, analysts anticipate that Madrigal Pharmaceuticals will post -27.67 EPS for the current year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 23.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Avoro Capital Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 5.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after buying an additional 111,111 shares in the last quarter. Paulson & CO. Inc. lifted its position in shares of Madrigal Pharmaceuticals by 4.2% during the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after buying an additional 75,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Madrigal Pharmaceuticals by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after buying an additional 94,064 shares in the last quarter. RTW Investments LP lifted its position in shares of Madrigal Pharmaceuticals by 163.4% during the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock worth $188,619,000 after buying an additional 505,706 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Madrigal Pharmaceuticals by 106.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock worth $214,491,000 after buying an additional 414,484 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.