Madrigal Pharmaceuticals (NASDAQ:MDGL) Downgraded by BidaskClub

BidaskClub lowered shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) from a hold rating to a sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

MDGL has been the topic of a number of other reports. Zacks Investment Research lowered Gold Resource from a hold rating to a sell rating in a research report on Friday, June 21st. UBS Group set a $180.00 price target on Accenture and gave the company a hold rating in a report on Thursday, March 28th. ValuEngine upgraded ZTE CORP/ADR from a hold rating to a buy rating in a report on Monday, April 15th. HC Wainwright set a $51.00 price target on Amarin and gave the company a buy rating in a report on Wednesday, July 3rd. Finally, Citigroup lifted their price target on Cyberark Software from $111.00 to $130.00 and gave the company an outperform rating in a report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $187.00.

Shares of Madrigal Pharmaceuticals stock opened at $91.81 on Wednesday. The stock’s fifty day moving average is $99.70. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -41.36 and a beta of 1.21. Madrigal Pharmaceuticals has a 12-month low of $89.83 and a 12-month high of $292.29.

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

A number of hedge funds and other institutional investors have recently modified their holdings of MDGL. Pearl River Capital LLC grew its stake in Madrigal Pharmaceuticals by 199.6% in the first quarter. Pearl River Capital LLC now owns 758 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 505 shares in the last quarter. First Mercantile Trust Co. grew its stake in Madrigal Pharmaceuticals by 26.4% in the first quarter. First Mercantile Trust Co. now owns 789 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 165 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Madrigal Pharmaceuticals by 59.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 366 shares during the last quarter. Quantamental Technologies LLC lifted its position in shares of Madrigal Pharmaceuticals by 11.6% in the first quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 93 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth about $116,000. Hedge funds and other institutional investors own 60.87% of the company’s stock.

About Madrigal Pharmaceuticals

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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