Madrigal Pharmaceuticals (MDGL) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a sell rating to a strong sell rating in a report published on Tuesday morning.

MDGL has been the topic of a number of other reports. Oppenheimer set a $300.00 price target on Madrigal Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, September 18th. Zacks Investment Research cut Madrigal Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, August 29th. Citigroup assumed coverage on Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They set a buy rating and a $340.00 price target on the stock. Goldman Sachs Group cut Madrigal Pharmaceuticals from a buy rating to a neutral rating and set a $314.00 price target on the stock. in a research note on Monday, August 6th. Finally, Raymond James assumed coverage on Madrigal Pharmaceuticals in a research note on Thursday, June 28th. They set a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $314.00.

MDGL traded up $3.98 during trading hours on Tuesday, reaching $191.64. The company’s stock had a trading volume of 101,927 shares, compared to its average volume of 279,556. Madrigal Pharmaceuticals has a fifty-two week low of $38.82 and a fifty-two week high of $325.98. The stock has a market capitalization of $3.29 billion, a PE ratio of -75.45 and a beta of 1.21.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.18. As a group, equities analysts predict that Madrigal Pharmaceuticals will post -2.19 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. United Services Automobile Association purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $505,000. Northern Trust Corp increased its holdings in Madrigal Pharmaceuticals by 23.1% in the second quarter. Northern Trust Corp now owns 90,663 shares of the biopharmaceutical company’s stock valued at $25,358,000 after buying an additional 17,023 shares during the last quarter. Moody Aldrich Partners LLC purchased a new position in Madrigal Pharmaceuticals in the second quarter valued at $1,419,000. Bank of New York Mellon Corp increased its holdings in Madrigal Pharmaceuticals by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 34,535 shares of the biopharmaceutical company’s stock valued at $9,659,000 after buying an additional 3,387 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Madrigal Pharmaceuticals in the second quarter valued at $518,000. 52.83% 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 and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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