Madrigal Pharmaceuticals (NASDAQ:MDGL) Lowered to Sell at BidaskClub

Madrigal Pharmaceuticals (NASDAQ:MDGL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other equities analysts have also commented on MDGL. HC Wainwright set a $51.00 price target on Amarin and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Citigroup lifted their price target on Cyberark Software from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. B. Riley restated a “buy” rating and issued a $3.50 price objective on shares of S&W Seed in a research report on Monday, June 10th. ValuEngine raised ZTE CORP/ADR from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Finally, Cowen reissued a “market perform” rating and set a $99.00 price objective (up previously from $97.00) on shares of United Continental in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $187.00.

Shares of NASDAQ:MDGL opened at $95.24 on Wednesday. Madrigal Pharmaceuticals has a fifty-two week low of $89.83 and a fifty-two week high of $292.29. The stock has a 50-day simple moving average of $99.70. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -42.90 and a beta of 1.21.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.02. During the same period in the prior year, the company earned ($0.45) earnings per share. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals will post -4.53 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in Madrigal Pharmaceuticals in the first quarter valued at $17,699,000. Norges Bank bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at about $9,282,000. Jennison Associates LLC increased its holdings in Madrigal Pharmaceuticals by 10.7% in the first quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock valued at $38,958,000 after buying an additional 29,949 shares during the last quarter. Rhenman & Partners Asset Management AB bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $3,410,000. Finally, Bank of Montreal Can increased its holdings in Madrigal Pharmaceuticals by 1,366.3% in the first quarter. Bank of Montreal Can now owns 26,350 shares of the biopharmaceutical company’s stock valued at $3,301,000 after buying an additional 24,553 shares during the last quarter. Institutional investors and hedge funds own 60.87% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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Analyst Recommendations for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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