Zacks Investment Research Lowers Madrigal Pharmaceuticals (NASDAQ:MDGL) to Sell

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, reports.

According to Zacks, “Madrigal Pharmaceuticals, Inc. is engaged in developing small-molecule drugs addressing cardiovascular and metabolic diseases. Its products pipeline include MGL-3196, an orally administered liver-directed thyroid hormone receptor-ß agonist that is used for the treatment of NASH, dyslipidemia/hypercholesterolemia and high triglycerides; and MGL-3745, a thyroid hormone receptor-ß agonist which are in pre-clinical trial stage. Madrigal Pharmaceuticals Inc., formerly known as Synta Pharmaceuticals Corp., is based in Fort Washington, Pennsylvania. “

A number of other analysts have also recently commented on MDGL. JMP Securities restated a “buy” rating and issued a $220.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Monday, February 7th. began coverage on Madrigal Pharmaceuticals in a research report on Thursday, March 31st. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $163.43.

Madrigal Pharmaceuticals stock opened at $70.93 on Thursday. The stock has a market capitalization of $1.21 billion, a PE ratio of -4.85 and a beta of 1.10. Madrigal Pharmaceuticals has a 12 month low of $52.33 and a 12 month high of $142.62. The business has a 50 day simple moving average of $90.25 and a 200-day simple moving average of $83.50.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The biopharmaceutical company reported ($3.78) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.92) by $0.14. Equities analysts forecast that Madrigal Pharmaceuticals will post -15.29 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Deep Track Capital LP purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $42,370,000. Wellington Management Group LLP grew its holdings in Madrigal Pharmaceuticals by 17.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,018,018 shares of the biopharmaceutical company’s stock valued at $81,228,000 after buying an additional 150,252 shares in the last quarter. Norges Bank purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $9,280,000. Perceptive Advisors LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $7,322,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $5,508,000. Hedge funds and other institutional investors own 77.81% of the company’s stock.

Madrigal Pharmaceuticals Company Profile (Get Rating)

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-Ã agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

Read More

Get a free copy of the Zacks research report on Madrigal Pharmaceuticals (MDGL)

For more information about research offerings from Zacks Investment Research, visit

Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with's FREE daily email newsletter.