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

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by equities researchers at StockNews.com to a “sell” rating in a research report issued on Friday.

A number of other research firms also recently issued reports on MDGL. Canaccord Genuity Group upped their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Citigroup upped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, March 15th. B. Riley raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and upped their price target for the company from $155.00 to $270.00 in a research note on Friday, March 15th. JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Finally, HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.40.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $245.27 on Friday. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $322.67. The company’s fifty day moving average price is $241.39 and its 200-day moving average price is $206.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. The company has a market capitalization of $4.88 billion, a PE ratio of -12.30 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period in the previous year, the firm earned ($4.98) EPS. On average, equities analysts anticipate that Madrigal Pharmaceuticals will post -21.48 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $245.99, for a total transaction of $658,269.24. Following the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $112,909,164.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the transaction, the director now directly owns 185,735 shares in the company, valued at approximately $45,726,099.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $245.99, for a total transaction of $658,269.24. Following the transaction, the chief marketing officer now owns 458,999 shares in the company, valued at $112,909,164.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,496 shares of company stock worth $31,362,420. Insiders own 23.92% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds have recently modified their holdings of MDGL. JPMorgan Chase & Co. lifted its position in shares of Madrigal Pharmaceuticals by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company’s stock valued at $3,500,000 after buying an additional 1,017 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Madrigal Pharmaceuticals by 4.0% during 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 buying an additional 1,383 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Madrigal Pharmaceuticals by 13.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,350 shares of the biopharmaceutical company’s stock valued at $819,000 after buying an additional 1,000 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Madrigal Pharmaceuticals by 58.6% in the 1st 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 raised its position in shares of Madrigal Pharmaceuticals by 3.8% in the 1st 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. 98.50% of the stock is owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

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.