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

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

A number of other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald reissued a neutral rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Evercore ISI dropped their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Citigroup reduced their target price 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. JMP Securities raised their price target 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. Finally, Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an outperform rating and a $382.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $343.83.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $225.72 on Friday. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $299.98. The firm has a market capitalization of $4.81 billion, a P/E ratio of -9.78 and a beta of -0.43. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $254.38 and a 200-day moving average of $249.87.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The firm had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. The company’s revenue for the quarter was up 146280.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.69) earnings per share. As a group, analysts predict that Madrigal Pharmaceuticals will post -27.67 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 23.92% of the stock is owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in Madrigal Pharmaceuticals by 35.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,920 shares of the biopharmaceutical company’s stock worth $444,000 after purchasing an additional 499 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Madrigal Pharmaceuticals by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 3,875 shares of the biopharmaceutical company’s stock valued at $897,000 after buying an additional 142 shares in the last quarter. Norges Bank acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $33,686,000. UBS Group AG raised its position in Madrigal Pharmaceuticals by 57.3% in the fourth quarter. UBS Group AG now owns 88,377 shares of the biopharmaceutical company’s stock worth $20,449,000 after acquiring an additional 32,192 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Madrigal Pharmaceuticals by 19.0% in the 4th quarter. Hsbc Holdings PLC now owns 16,949 shares of the biopharmaceutical company’s stock valued at $3,922,000 after acquiring an additional 2,706 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.