Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded at StockNews.com

Madrigal Pharmaceuticals (NASDAQ:MDGL) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Thursday.

MDGL has been the topic of a number of other research reports. Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research report on Friday, March 15th. UBS Group increased their price objective on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, March 15th. JMP Securities increased their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $155.00 to $270.00 in a research note on Friday, March 15th. Finally, HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $377.40.

Madrigal Pharmaceuticals Stock Up 3.2 %

Shares of NASDAQ MDGL traded up $8.23 during midday trading on Thursday, hitting $267.04. The stock had a trading volume of 441,791 shares, compared to its average volume of 568,698. The company has a market cap of $5.31 billion, a P/E ratio of -13.39 and a beta of -0.48. The business’s 50 day moving average is $236.79 and its 200-day moving average is $201.27. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week 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:MDGL) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter in the prior year, the company posted ($4.98) EPS. As a group, analysts predict that Madrigal Pharmaceuticals will post -21.48 EPS for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of MDGL. Montag A & Associates Inc. raised its position in shares of Madrigal Pharmaceuticals by 223.3% during the 3rd quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 134 shares during the period. Global Retirement Partners LLC raised its position in shares of Madrigal Pharmaceuticals by 454.5% during the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $55,000. KBC Group NV bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter valued at $60,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Madrigal Pharmaceuticals by 95.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 228 shares during the period. 98.50% of the stock is currently owned by 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.