Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) to a sell rating in a report released on Monday morning.

Several other analysts have also recently weighed in on MDGL. Wolfe Research initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, June 11th. They set an outperform rating and a $382.00 price objective on the stock. Evercore ISI decreased their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. JMP Securities lifted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a market outperform rating in a research report on Tuesday, July 16th. Cantor Fitzgerald restated a neutral rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Finally, Citigroup cut their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a buy rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $343.83.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL stock opened at $233.00 on Monday. The stock’s fifty day simple moving average is $262.27 and its 200 day simple moving average is $250.50. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $299.98. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of -10.09 and a beta of -0.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to the consensus estimate of $4.25 million. During the same period in the previous year, the business posted ($4.69) earnings per share. The firm’s revenue was up 146280.0% compared to the same quarter last year. On average, analysts expect that Madrigal Pharmaceuticals will post -27.67 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 1,900 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $280.00, for a total transaction of $532,000.00. Following the completion of the sale, the vice president now directly owns 5,500 shares of the company’s stock, valued at $1,540,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert E. Waltermire sold 1,900 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $280.00, for a total transaction of $532,000.00. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at approximately $1,540,000. The disclosure for this sale can be found here. 23.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently bought and sold shares of MDGL. First Horizon Advisors Inc. increased its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 98 shares in the last quarter. Signaturefd LLC grew its stake in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 39 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth about $41,000. UMB Bank n.a. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth about $53,000. Finally, Quest Partners LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 209 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.