Madrigal Pharmaceuticals (NASDAQ:MDGL) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) in a report released on Thursday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

MDGL has been the subject of a number of other research reports. Evercore ISI upped their price target on Madrigal Pharmaceuticals from $175.00 to $325.00 in a report on Tuesday, December 20th. UBS Group upped their price target on Madrigal Pharmaceuticals from $161.00 to $337.00 and gave the stock a buy rating in a report on Wednesday, December 21st. B. Riley upped their price target on Madrigal Pharmaceuticals from $75.00 to $194.00 in a report on Monday, December 19th. Oppenheimer upped their price target on Madrigal Pharmaceuticals from $250.00 to $300.00 and gave the stock an outperform rating in a report on Monday, February 27th. Finally, JMP Securities upped their price target on Madrigal Pharmaceuticals from $312.00 to $390.00 and gave the stock a market outperform rating in a report on Thursday, January 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $294.75.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $250.61 on Thursday. The stock has a market cap of $4.55 billion, a PE ratio of -14.54 and a beta of -0.55. The business has a 50-day simple moving average of $279.81 and a 200-day simple moving average of $163.92. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.25. Madrigal Pharmaceuticals has a 52-week low of $57.15 and a 52-week high of $315.45.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The biopharmaceutical company reported ($4.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.61) by ($0.37). On average, equities analysts expect that Madrigal Pharmaceuticals will post -19.59 EPS for the current year.

Insider Activity

In other news, Director Richard S. Levy sold 22,489 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $293.15, for a total value of $6,592,650.35. Following the completion of the sale, the director now directly owns 9,100 shares in the company, valued at $2,667,665. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Remy Sukhija sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $274.14, for a total value of $8,224,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 22,489 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $293.15, for a total value of $6,592,650.35. Following the completion of the sale, the director now owns 9,100 shares of the company’s stock, valued at $2,667,665. The disclosure for this sale can be found here. Insiders sold 72,489 shares of company stock worth $20,414,070 over the last ninety days. Corporate insiders own 29.71% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in Madrigal Pharmaceuticals by 2.3% in the fourth quarter. Amalgamated Bank now owns 2,096 shares of the biopharmaceutical company’s stock valued at $608,000 after acquiring an additional 47 shares during the last quarter. Legal & General Group Plc lifted its holdings in Madrigal Pharmaceuticals by 0.9% in the fourth quarter. Legal & General Group Plc now owns 11,775 shares of the biopharmaceutical company’s stock valued at $3,418,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System lifted its holdings in Madrigal Pharmaceuticals by 3.8% in the fourth quarter. Arizona State Retirement System now owns 3,378 shares of the biopharmaceutical company’s stock valued at $980,000 after acquiring an additional 125 shares during the last quarter. Liberty One Investment Management LLC lifted its holdings in Madrigal Pharmaceuticals by 10.5% in the third quarter. Liberty One Investment Management LLC now owns 1,929 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 183 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Madrigal Pharmaceuticals by 0.6% in the third quarter. Nuveen Asset Management LLC now owns 35,221 shares of the biopharmaceutical company’s stock valued at $2,289,000 after acquiring an additional 205 shares during the last quarter. 67.98% of the stock is currently owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Company Profile

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Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.