13,400 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,400 shares of the biopharmaceutical company's stock, valued at approximately $4,135,000. Canada Pension Plan Investment Board owned 0.06% of Madrigal Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new position in Madrigal Pharmaceuticals during the fourth quarter valued at $1,297,000. Franklin Resources Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after buying an additional 4,704 shares during the period. Barclays PLC lifted its holdings in shares of Madrigal Pharmaceuticals by 159.9% in the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company's stock valued at $8,549,000 after buying an additional 24,783 shares during the period. Prudential Financial Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 166.2% in the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after buying an additional 2,282 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Madrigal Pharmaceuticals by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company's stock worth $46,516,000 after acquiring an additional 2,776 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDGL has been the topic of several recent research reports. JMP Securities restated a "market outperform" rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Citigroup increased their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and lifted their price objective for the company from $236.00 to $422.00 in a report on Thursday, February 27th. Finally, HC Wainwright increased their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $407.00.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the transaction, the chief executive officer now owns 54,303 shares in the company, valued at approximately $18,204,537.72. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Rebecca Taub sold 648 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $217,235.52. Following the sale, the chief marketing officer now owns 456,662 shares in the company, valued at $153,091,368.88. The trade was a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,492 shares of company stock valued at $11,509,707 in the last 90 days. Company insiders own 22.80% of the company's stock.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $302.72 on Wednesday. The business's fifty day moving average price is $327.09 and its 200 day moving average price is $308.46. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46. The company has a market capitalization of $6.68 billion, a PE ratio of -12.07 and a beta of -0.69. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.

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