Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) traded down 0.19% during midday trading on Friday, hitting $16.16. 1,744 shares of the stock were exchanged. Madrigal Pharmaceuticals has a 1-year low of $6.60 and a 1-year high of $18.24. The company’s market capitalization is $196.62 million. The firm has a 50-day moving average of $15.89 and a 200-day moving average of $15.86.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, May 11th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.37. On average, equities analysts expect that Madrigal Pharmaceuticals will post ($2.57) EPS for the current year.

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Several institutional investors have recently bought and sold shares of MDGL. Goldman Sachs Group Inc. acquired a new position in Madrigal Pharmaceuticals during the first quarter worth about $321,000. Citadel Advisors LLC purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $332,000. Geode Capital Management LLC increased its position in shares of Madrigal Pharmaceuticals by 0.8% in the first quarter. Geode Capital Management LLC now owns 25,821 shares of the biopharmaceutical company’s stock valued at $397,000 after buying an additional 216 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $732,000. Finally, Renaissance Technologies LLC increased its position in shares of Madrigal Pharmaceuticals by 8.5% in the fourth quarter. Renaissance Technologies LLC now owns 57,475 shares of the biopharmaceutical company’s stock valued at $856,000 after buying an additional 4,488 shares in the last quarter. 8.72% of the stock is currently owned by institutional investors.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).

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