Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Rating Upgraded by StockNews.com

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by investment analysts at StockNews.com to a “sell” rating in a note issued to investors on Saturday.

Several other equities analysts also recently commented on MDGL. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday. Evercore ISI cut their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Finally, Citigroup dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.83.

Madrigal Pharmaceuticals Trading Up 1.7 %

Madrigal Pharmaceuticals stock opened at $214.15 on Friday. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -8.40 and a beta of -0.44. The firm has a 50 day moving average of $235.57 and a 200 day moving average of $245.37. 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 (NASDAQ:MDGL) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same quarter in the previous year, the business earned ($4.69) earnings per share. The firm’s revenue for the quarter was up 146280.0% on a year-over-year basis. As a group, research analysts predict that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the business’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 transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning grew its stake in Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 87 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Madrigal Pharmaceuticals by 2.8% in the third quarter. Handelsbanken Fonder AB now owns 32,500 shares of the biopharmaceutical company’s stock valued at $6,897,000 after acquiring an additional 900 shares in the last quarter. SG Americas Securities LLC purchased a new position in Madrigal Pharmaceuticals in the third quarter worth $414,000. Centaurus Financial Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the second quarter worth $163,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter worth $294,000. Institutional investors own 98.50% of the company’s stock.

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.