Madrigal Pharmaceuticals (NASDAQ:MDGL) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) in a report issued on Thursday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their target price on Madrigal Pharmaceuticals from $178.00 to $375.00 and gave the stock a buy rating in a research report on Monday, December 19th. SVB Leerink raised their price target on Madrigal Pharmaceuticals from $145.00 to $315.00 and gave the company an outperform rating in a report on Tuesday, December 20th. Cowen raised their price target on Madrigal Pharmaceuticals from $129.00 to $309.00 in a report on Tuesday, December 20th. UBS Group raised their price target on Madrigal Pharmaceuticals from $161.00 to $337.00 and gave the company a buy rating in a report on Wednesday, December 21st. Finally, HC Wainwright raised their price target on Madrigal Pharmaceuticals from $170.00 to $225.00 and gave the company a buy rating in a report on Monday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $294.75.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $250.61 on Thursday. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.25. Madrigal Pharmaceuticals has a 12-month low of $57.15 and a 12-month high of $315.45. The stock has a 50-day moving average price of $279.81 and a 200 day moving average price of $163.92. The stock has a market capitalization of $4.55 billion, a P/E ratio of -14.54 and a beta of -0.55.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last released its earnings results on Thursday, February 23rd. The biopharmaceutical company reported ($4.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.61) by ($0.37). Equities research analysts forecast that Madrigal Pharmaceuticals will post -19.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brian Joseph Lynch sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $274.18, for a total transaction of $1,919,260.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 22,489 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $293.15, for a total transaction of $6,592,650.35. Following the transaction, the director now directly owns 9,100 shares in the company, valued at approximately $2,667,665. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Joseph Lynch sold 7,000 shares of the firm’s stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $274.18, for a total value of $1,919,260.00. The disclosure for this sale can be found here. In the last three months, insiders sold 72,489 shares of company stock valued at $20,414,070. Insiders own 29.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 8.1% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,660,000 shares of the biopharmaceutical company’s stock worth $481,815,000 after purchasing an additional 125,000 shares during the period. Vanguard Group Inc. increased its holdings in Madrigal Pharmaceuticals by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,254,305 shares of the biopharmaceutical company’s stock worth $81,517,000 after purchasing an additional 22,322 shares during the period. Armistice Capital LLC increased its holdings in Madrigal Pharmaceuticals by 12.4% during the 3rd quarter. Armistice Capital LLC now owns 1,236,000 shares of the biopharmaceutical company’s stock worth $80,328,000 after purchasing an additional 136,000 shares during the period. State Street Corp increased its holdings in Madrigal Pharmaceuticals by 17.1% during the 3rd quarter. State Street Corp now owns 966,641 shares of the biopharmaceutical company’s stock worth $62,822,000 after purchasing an additional 141,334 shares during the period. Finally, BlackRock Inc. increased its holdings in Madrigal Pharmaceuticals by 0.7% during the 1st quarter. BlackRock Inc. now owns 956,529 shares of the biopharmaceutical company’s stock worth $93,855,000 after purchasing an additional 7,002 shares during the period. 67.98% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

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Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.