Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Rating Upgraded by StockNews.com

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Wednesday.

A number of other brokerages have also recently weighed in on MDGL. Evercore ISI boosted their price objective on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. B. Riley reduced their price objective on Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Cantor Fitzgerald initiated coverage on Madrigal Pharmaceuticals in a research note on Friday, June 28th. They set a “neutral” rating for the company. Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Finally, TD Cowen raised their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.17.

Read Our Latest Research Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Trading Down 2.9 %

Shares of NASDAQ MDGL traded down $8.59 during trading on Wednesday, hitting $284.37. 169,453 shares of the company were exchanged, compared to its average volume of 505,052. The company has a fifty day moving average price of $250.40 and a 200-day moving average price of $239.55. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $299.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39. The firm has a market capitalization of $6.06 billion, a PE ratio of -12.32 and a beta of -0.42.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32). During the same period last year, the firm posted ($4.23) earnings per share. As a group, equities research analysts expect that Madrigal Pharmaceuticals will post -27.7 EPS for the current year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Fred B. Craves sold 22,489 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the transaction, the director now directly owns 413,362 shares in the company, valued at approximately $87,996,502.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $285.00, for a total value of $570,000.00. Following the completion of the transaction, the vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $1,567,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Fred B. Craves sold 22,489 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $212.88, for a total transaction of $4,787,458.32. Following the transaction, the director now owns 413,362 shares in the company, valued at $87,996,502.56. The disclosure for this sale can be found here. In the last three months, insiders sold 27,425 shares of company stock worth $6,129,127. Insiders own 23.92% of the company’s stock.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $281,000. Artal Group S.A. acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $29,510,000. Rokos Capital Management LLP acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth approximately $10,064,000. Comerica Bank raised its stake in Madrigal Pharmaceuticals by 615.4% during the 1st quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 320 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in Madrigal Pharmaceuticals during the 1st quarter worth $2,459,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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