Madrigal Pharmaceuticals (NASDAQ:MDGL) Rating Increased to Sell at StockNews.com
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued to investors on Tuesday.
Other equities research analysts also recently issued reports about the stock. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Evercore ISI reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, September 19th. B. Riley reaffirmed a “neutral” rating and issued a $224.00 target price on shares of Madrigal Pharmaceuticals in a research report on Monday, September 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $383.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, November 14th. Finally, Oppenheimer dropped their target price on shares of Madrigal Pharmaceuticals from $350.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $313.09.
Get Our Latest Research Report on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Stock Up 5.9 %
Madrigal Pharmaceuticals stock traded up $13.13 during mid-day trading on Tuesday, reaching $235.11. 473,792 shares of the company’s stock were exchanged, compared to its average volume of 388,304. The company has a market cap of $4.64 billion, a P/E ratio of -12.22 and a beta of -0.42. Madrigal Pharmaceuticals has a twelve month low of $57.21 and a twelve month high of $322.67. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 5.16. The company has a fifty day moving average of $155.51 and a 200-day moving average of $192.67.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last announced its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($5.34) EPS for the quarter, missing analysts’ consensus estimates of ($4.90) by ($0.44). Sell-side analysts expect that Madrigal Pharmaceuticals will post -19.32 EPS for the current year.
Insiders Place Their Bets
In other news, Director Bros. Advisors Lp Baker bought 64,350 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $188.47 per share, for a total transaction of $12,128,044.50. Following the purchase, the director now owns 1,667,104 shares of the company’s stock, valued at $314,199,090.88. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Bros. Advisors Lp Baker bought 64,350 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $188.47 per share, for a total transaction of $12,128,044.50. Following the purchase, the director now owns 1,667,104 shares of the company’s stock, valued at $314,199,090.88. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Brian Joseph Lynch sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $199.19, for a total transaction of $796,760.00. Following the completion of the sale, the senior vice president now owns 15,001 shares of the company’s stock, valued at approximately $2,988,049.19. The disclosure for this sale can be found here. In the last three months, insiders have acquired 144,908 shares of company stock valued at $25,576,570. Insiders own 23.92% of the company’s stock.
Institutional Trading of Madrigal Pharmaceuticals
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 30.0% in the third quarter. American Century Companies Inc. now owns 63,609 shares of the biopharmaceutical company’s stock valued at $9,289,000 after purchasing an additional 14,669 shares during the period. Deutsche Bank AG lifted its stake in shares of Madrigal Pharmaceuticals by 18.5% in the third quarter. Deutsche Bank AG now owns 43,871 shares of the biopharmaceutical company’s stock valued at $6,407,000 after purchasing an additional 6,840 shares during the period. Verity Asset Management Inc. increased its holdings in Madrigal Pharmaceuticals by 36.7% during the 3rd quarter. Verity Asset Management Inc. now owns 2,687 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 721 shares in the last quarter. Creative Planning purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $303,000. Finally, Tudor Investment Corp Et Al increased its holdings in Madrigal Pharmaceuticals by 45.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 4,692 shares of the biopharmaceutical company’s stock valued at $685,000 after acquiring an additional 1,473 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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