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 research note issued to investors on Monday morning.

Other equities analysts also recently issued research reports about the stock. JMP Securities increased their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a market outperform rating in a report on Tuesday, July 16th. Citigroup lowered 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 note on Thursday, August 8th. Wolfe Research assumed coverage on Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an outperform rating and a $382.00 target price on the stock. Cantor Fitzgerald reaffirmed a neutral rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, July 23rd. Finally, Evercore ISI decreased their target price 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. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $343.83.

Madrigal Pharmaceuticals Trading Up 0.8 %

NASDAQ MDGL opened at $234.76 on Monday. 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 stock has a market capitalization of $5.00 billion, a P/E ratio of -10.17 and a beta of -0.43. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $299.98. The firm has a 50-day moving average price of $261.53 and a 200 day moving average price of $250.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $4.25 million. During the same period last year, the company posted ($4.69) earnings per share. The business’s quarterly revenue was up 146280.0% on a year-over-year basis. Equities research analysts expect 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 the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 23.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Paulson & CO. Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after purchasing an additional 605,741 shares during the period. RTW Investments LP boosted its position in Madrigal Pharmaceuticals by 163.4% in the 4th quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after buying an additional 505,706 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Madrigal Pharmaceuticals by 106.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock worth $214,491,000 after acquiring an additional 414,484 shares during the last quarter. Avoro Capital Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 21.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock worth $437,051,000 after acquiring an additional 333,888 shares in the last quarter. Finally, Bain Capital Life Sciences Investors LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at about $75,110,000. Hedge funds and other 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.