Madrigal Pharmaceuticals (NASDAQ:MDGL) Trading Up 1.2%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLGet Rating)’s share price was up 1.2% during trading on Friday . The company traded as high as $63.27 and last traded at $63.27. Approximately 1,235 shares changed hands during trading, a decline of 99% from the average daily volume of 229,736 shares. The stock had previously closed at $62.49.

Analysts Set New Price Targets

Separately, B. Riley downgraded Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $131.00 to $75.00 in a research report on Friday, July 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $161.00.

Madrigal Pharmaceuticals Price Performance

The stock has a fifty day moving average of $69.48 and a 200-day moving average of $75.19. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -4.15 and a beta of 1.00.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Madrigal Pharmaceuticals by 20.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 2,483 shares of the biopharmaceutical company’s stock valued at $210,000 after acquiring an additional 422 shares during the period. Rock Springs Capital Management LP boosted its holdings in shares of Madrigal Pharmaceuticals by 1.5% in the first quarter. Rock Springs Capital Management LP now owns 273,500 shares of the biopharmaceutical company’s stock valued at $26,836,000 after acquiring an additional 4,100 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $209,000. Clear Creek Financial Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at approximately $207,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter valued at approximately $7,322,000. 69.69% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Company Profile

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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. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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