Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded to “sell” by StockNews.com

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get a Free Report) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report issued on Wednesday.

Other equities analysts have recently issued research reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, July 23rd. Citigroup cut their price target 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. Evercore ISI cut their price target on shares of 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 raised their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Finally, Wolfe Research started coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.83, according to MarketBeat.com.

Check out our latest analysis of Madrigal Pharmaceuticals

Madrigal Pharmaceuticals stock fell 0.1%

Shares of MDGL stock traded down $0.18 during trading on Wednesday, hitting $209.15. The stock had a trading volume of 242,470 shares compared to its average volume of 433,632. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $299.98. The company’s 50-day moving average is $246.60, and its two-hundred-day moving average is $247.91. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -9.06 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.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping the consensus estimate of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. During the same period last year, the company posted ($4.69) earnings per share. The company’s quarterly revenue was up 146,280.0% year-over-year. equities research analysts forecast that Madrigal Pharmaceuticals will post -27.67 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the sale, the chief executive officer now owns 55,887 shares in the company, valued at approximately $13,626,927.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Insiders own 23.92% of the company’s shares.

Institutional Marketing of Madrigal Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after acquiring an additional 111,111 shares during the period. Paulson & Co. Inc. boosted its stake in Madrigal Pharmaceuticals by 4.2% in the second quarter. Paulson & Co. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after acquiring an additional 75,000 shares during the period. Vanguard Group Inc. raised its stake in Madrigal Pharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after acquiring an additional 94,064 shares during the period. RTW Investments LP boosted its holdings in shares of 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 in the last quarter . Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Madrigal Pharmaceuticals by 106.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock valued at $214,491,000 after buying an additional 414,484 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s shares.

About Madrigal Pharmaceuticals

(Get a free report)

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, is focused on developing drugs for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetyrom, a liver-directed thyroid hormone receptor beta-agonist that is in phase 3 clinical trials to treat NASH.

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