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 research report sent to investors on Friday.

Several other analysts also recently weighed in on the company. Piper Sandler reissued an overweight rating and issued a $336.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. UBS Group upped their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a buy rating in a research note on Friday, March 15th. Canaccord Genuity Group upped their price objective on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a buy rating in a research note on Friday, March 15th. Oppenheimer upped their price objective on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an outperform rating in a research note on Friday, March 15th. Finally, TD Cowen boosted their target price on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an outperform rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $322.67. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -11.60 and a beta of -0.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The business has a fifty day moving average price of $241.72 and a 200 day moving average price of $208.04.

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

Insider Buying and Selling

In related news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction that occurred 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 approximately $2,651,529.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction that occurred 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 approximately $2,651,529.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the completion of the sale, the director now owns 1,198 shares in the company, valued at approximately $123,118.46. The disclosure for this sale can be found here. Insiders have sold a total of 146,496 shares of company stock worth $31,362,420 in the last quarter. Company insiders own 23.92% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently bought and sold shares of MDGL. Tower Research Capital LLC TRC raised its position in shares of Madrigal Pharmaceuticals by 21.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the biopharmaceutical company’s stock worth $301,000 after buying an additional 367 shares during the period. Glenmede Trust Co. NA raised its position in Madrigal Pharmaceuticals by 53.2% in the third quarter. Glenmede Trust Co. NA now owns 1,567 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 544 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Madrigal Pharmaceuticals in the third quarter valued at about $314,000. Charles Schwab Investment Management Inc. raised its position in Madrigal Pharmaceuticals by 11.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,501 shares of the biopharmaceutical company’s stock valued at $15,992,000 after purchasing an additional 11,083 shares during the period. Finally, Vanguard Group Inc. raised its position in Madrigal Pharmaceuticals by 7.4% in the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock valued at $229,770,000 after purchasing an additional 107,816 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.