Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded to Sell 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 research analysts have also issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a buy rating in a report on Friday, March 15th. JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an outperform rating in a report on Friday, March 15th. Evercore ISI raised their price objective on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an outperform rating in a report on Wednesday, March 20th. TD Cowen raised their price objective on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an outperform rating in a report on Friday, March 15th. Finally, Oppenheimer raised their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an outperform rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of Moderate Buy and an average target price of $377.40.

Madrigal Pharmaceuticals Trading Down 2.2 %

MDGL opened at $231.37 on Friday. The company’s 50 day moving average is $241.72 and its 200-day moving average is $208.04. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $322.67. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market cap of $4.60 billion, a P/E ratio of -11.60 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter in the prior year, the business posted ($4.98) EPS. Equities research analysts predict that Madrigal Pharmaceuticals will post -21.48 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the sale, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the sale, the director now owns 10,298 shares in the company, valued at $2,651,529.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,496 shares of company stock valued at $31,362,420. 23.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 100 shares during the period. Montag A & Associates Inc. increased its position in shares of Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 134 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at about $55,000. KBC Group NV bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $60,000. Finally, Osaic Holdings Inc. increased its position in shares of Madrigal Pharmaceuticals by 30.1% during the second quarter. Osaic Holdings Inc. now owns 333 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 77 shares during the period. 98.50% of the stock is currently owned by institutional investors.

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.