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

StockNews.com upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGLFree Report) to a sell rating in a research note issued to investors on Thursday morning.

Several other equities research analysts have also recently commented on MDGL. Piper Sandler restated an overweight rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Evercore ISI upped their price target on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. HC Wainwright upped their price target on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a buy rating in a research note on Friday, March 15th. Oppenheimer upped their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Finally, JMP Securities upped their price target on Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the stock an outperform rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $377.40.

Read Our Latest Analysis on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Stock Up 3.2 %

Shares of Madrigal Pharmaceuticals stock opened at $267.04 on Thursday. The firm’s fifty day simple moving average is $236.79 and its 200-day simple moving average is $201.27. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter last year, the business earned ($4.98) EPS. As a group, analysts anticipate that Madrigal Pharmaceuticals will post -21.48 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently bought and sold shares of MDGL. JPMorgan Chase & Co. grew its holdings in Madrigal Pharmaceuticals by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company’s stock valued at $3,500,000 after purchasing an additional 1,017 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Madrigal Pharmaceuticals by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 36,127 shares of the biopharmaceutical company’s stock valued at $3,545,000 after purchasing an additional 1,383 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Madrigal Pharmaceuticals by 13.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,350 shares of the biopharmaceutical company’s stock valued at $819,000 after purchasing an additional 1,000 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Madrigal Pharmaceuticals by 58.6% in the first quarter. MetLife Investment Management LLC now owns 6,682 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 2,468 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Madrigal Pharmaceuticals by 3.8% in the first quarter. Rhumbline Advisers now owns 12,393 shares of the biopharmaceutical company’s stock valued at $1,216,000 after purchasing an additional 451 shares during the last quarter. 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.

Recommended Stories

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 MarketBeat.com's FREE daily email newsletter.