Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Rating Upgraded by StockNews.com

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

A number of other analysts have also commented on the company. Oppenheimer raised their price target on Madrigal Pharmaceuticals from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, February 27th. Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $296.00 to $336.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.82.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $292.92 on Friday. The company has a market cap of $5.36 billion, a PE ratio of -17.00 and a beta of -0.61. Madrigal Pharmaceuticals has a 52 week low of $57.21 and a 52 week high of $322.67. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $266.02 and its two-hundred day simple moving average is $219.24.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($4.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.78) by $0.55. Research analysts predict that Madrigal Pharmaceuticals will post -20.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bradley & Co. Private Wealth Management LLC increased its position in shares of Madrigal Pharmaceuticals by 307.4% in the first quarter. Bradley & Co. Private Wealth Management LLC now owns 110 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 83 shares in the last quarter. Garda Capital Partners LP purchased a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth approximately $34,000. Russell Investments Group Ltd. acquired a new position in Madrigal Pharmaceuticals during the first quarter worth $55,000. Nisa Investment Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 145.8% during the first quarter. Nisa Investment Advisors LLC now owns 236 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 140 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Madrigal Pharmaceuticals by 41.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 246 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 72 shares during the last quarter. 67.98% of the stock is currently owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

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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.