Madrigal Pharmaceuticals (NASDAQ:MDGL) Lifted to “Sell” at StockNews.com

StockNews.com upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) to a sell rating in a research note issued to investors on Friday morning.

A number of other research firms also recently issued reports on MDGL. 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 report on Tuesday, July 16th. Cantor Fitzgerald reissued a neutral rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Wolfe Research initiated coverage on Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an outperform rating and a $382.00 price target on the stock. Citigroup lowered their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus price target of $343.83.

Madrigal Pharmaceuticals Stock Performance

MDGL stock opened at $233.49 on Friday. The business’s 50-day moving average price is $255.47 and its two-hundred day moving average price is $250.05. 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 firm has a market cap of $4.98 billion, a PE ratio of -10.11 and a beta of -0.43. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $299.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $4.25 million. The business’s revenue for the quarter was up 146280.0% on a year-over-year basis. During the same quarter last year, the firm earned ($4.69) earnings per share. As a group, research analysts forecast that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MDGL. Avoro Capital Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after purchasing an additional 111,111 shares during the period. Paulson & CO. Inc. increased its holdings in Madrigal Pharmaceuticals by 4.2% in the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock valued at $518,296,000 after purchasing an additional 75,000 shares during the period. Vanguard Group Inc. increased its holdings in Madrigal Pharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock valued at $445,638,000 after purchasing an additional 94,064 shares during the period. RTW Investments LP increased its holdings in Madrigal Pharmaceuticals by 163.4% in the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after purchasing an additional 505,706 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Madrigal Pharmaceuticals by 106.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock valued at $214,491,000 after purchasing an additional 414,484 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About Madrigal Pharmaceuticals

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.