Madrigal Pharmaceuticals (NASDAQ:MDGL) Raised to Sell at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Madrigal Pharmaceuticals (NASDAQ:MDGL – Free Report) to a sell rating in a report issued on Tuesday morning.

Other research analysts have also recently issued research reports about the company. JMP Securities reaffirmed a market outperform rating and set a $383.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, November 14th. HC Wainwright increased their price target on shares of Madrigal Pharmaceuticals from $225.00 to $275.00 and gave the stock a buy rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $309.14.

View Our Latest Stock Report on MDGL

Madrigal Pharmaceuticals Trading Down 1.8 %

NASDAQ:MDGL opened at $225.97 on Tuesday. The stock has a 50-day simple moving average of $221.80 and a two-hundred day simple moving average of $187.37. The company has a debt-to-equity ratio of 5.16, a current ratio of 2.36 and a quick ratio of 2.36. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $322.67.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last issued its earnings results on Monday, November 6th. The biopharmaceutical company reported ($5.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.90) by ($0.44). On average, sell-side analysts forecast that Madrigal Pharmaceuticals will post -19.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 2,500 shares of Madrigal Pharmaceuticals stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $225.40, for a total value of $563,500.00. Following the transaction, the vice president now directly owns 5,667 shares in the company, valued at approximately $1,277,341.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Robert E. Waltermire sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $225.40, for a total transaction of $563,500.00. Following the completion of the transaction, the vice president now owns 5,667 shares of the company’s stock, valued at $1,277,341.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bros. Advisors Lp Baker acquired 81,159 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were purchased at an average cost of $219.39 per share, with a total value of $17,805,473.01. Following the acquisition, the director now owns 1,774,294 shares of the company’s stock, valued at approximately $389,262,360.66. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 226,067 shares of company stock worth $43,382,043 and have sold 8,300 shares worth $1,754,226. 23.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Madrigal Pharmaceuticals by 2.9% during the 1st quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company’s stock worth $3,500,000 after purchasing an additional 1,017 shares during the last quarter. Bank of New York Mellon Corp increased 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 worth $3,545,000 after buying an additional 1,383 shares during the period. 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 worth $819,000 after purchasing an additional 1,000 shares during the period. 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 worth $656,000 after purchasing an additional 2,468 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of 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 buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 79.86% of the company’s stock.

About Madrigal Pharmaceuticals

(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 selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.

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