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

Posted by on Jun 15th, 2023

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

MDGL has been the topic of several other research reports. Oppenheimer boosted their price target on Madrigal Pharmaceuticals from $300.00 to $350.00 in a research note on Tuesday, May 16th. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $296.00 to $336.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.36.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $256.71 on Thursday. Madrigal Pharmaceuticals has a 1-year low of $57.21 and a 1-year high of $322.67. The firm has a market capitalization of $4.70 billion, a PE ratio of -14.18 and a beta of -0.71. The business’s 50 day moving average is $280.00 and its 200-day moving average is $253.60. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($4.23) earnings per share for the quarter, topping the consensus estimate of ($4.78) by $0.55. Sell-side analysts predict that Madrigal Pharmaceuticals will post -18.65 earnings per share for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Legato Capital Management LLC bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $488,000. Verity Asset Management Inc. increased its holdings in Madrigal Pharmaceuticals by 44.2% in the first quarter. Verity Asset Management Inc. now owns 1,474 shares of the biopharmaceutical company’s stock valued at $357,000 after purchasing an additional 452 shares during the last quarter. Capital Impact Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 17.8% in the first quarter. Capital Impact Advisors LLC now owns 2,892 shares of the biopharmaceutical company’s stock valued at $701,000 after purchasing an additional 438 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $2,444,000. Finally, Hudson Bay Capital Management LP bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $3,113,000. Institutional investors own 67.98% of the company’s stock.

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.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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