Madrigal Pharmaceuticals (NASDAQ:MDGL) Upgraded by BidaskClub to “Hold”

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

MDGL has been the topic of several other research reports. Canaccord Genuity reiterated a buy rating on shares of Madrigal Pharmaceuticals in a report on Thursday, August 27th. BMO Capital Markets assumed coverage on Madrigal Pharmaceuticals in a report on Thursday, June 4th. They set a market perform rating and a $135.00 price objective on the stock. Oppenheimer reiterated a buy rating and set a $200.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, August 6th. Piper Sandler assumed coverage on Madrigal Pharmaceuticals in a report on Thursday, July 30th. They set an overweight rating and a $208.00 price objective on the stock. Finally, B. Riley boosted their target price on Madrigal Pharmaceuticals from $134.00 to $174.00 and gave the company a buy rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $168.40.

Shares of MDGL opened at $122.88 on Thursday. Madrigal Pharmaceuticals has a 1 year low of $56.82 and a 1 year high of $127.25. The stock’s 50-day moving average price is $106.10 and its two-hundred day moving average price is $98.34.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($3.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.43) by ($0.75). During the same period in the previous year, the company posted ($1.28) earnings per share. As a group, equities analysts predict that Madrigal Pharmaceuticals will post -12.33 earnings per share for the current year.

In other Madrigal Pharmaceuticals news, Director Fred B. Craves sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $109.74, for a total transaction of $3,292,200.00. Following the transaction, the director now owns 281,683 shares of the company’s stock, valued at approximately $30,911,892.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bay City Capital Llc sold 7,303 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $107.64, for a total value of $786,094.92. The disclosure for this sale can be found here. Insiders have sold a total of 49,803 shares of company stock worth $5,462,420 in the last ninety days. Insiders own 41.89% of the company’s stock.

Large investors have recently bought and sold shares of the business. Liberty One Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $26,000. Advisor Group Holdings Inc. acquired a new position in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $35,000. First Mercantile Trust Co. acquired a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter worth approximately $78,000. Ameritas Investment Partners Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 787 shares of the biopharmaceutical company’s stock worth $89,000 after acquiring an additional 100 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Madrigal Pharmaceuticals by 54.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 809 shares of the biopharmaceutical company’s stock worth $91,000 after acquiring an additional 286 shares during the last quarter. 72.04% of the stock is currently owned by hedge funds and other institutional investors.

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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