BNP Paribas Financial Markets Has $2.07 Million Stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

BNP Paribas Financial Markets boosted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 97.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,767 shares of the biopharmaceutical company's stock after purchasing an additional 4,811 shares during the period. BNP Paribas Financial Markets' holdings in Madrigal Pharmaceuticals were worth $2,073,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp bought a new stake in shares of Madrigal Pharmaceuticals during the 2nd quarter worth $32,335,000. Avoro Capital Advisors LLC increased its stake in Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock worth $575,884,000 after purchasing an additional 111,111 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Madrigal Pharmaceuticals by 172.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company's stock worth $11,475,000 after buying an additional 97,387 shares during the period. Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 4.2% during the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company's stock valued at $518,296,000 after buying an additional 75,000 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 58.7% during the second quarter. Fred Alger Management LLC now owns 102,455 shares of the biopharmaceutical company's stock valued at $28,704,000 after acquiring an additional 37,879 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MDGL shares. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. HC Wainwright reissued a "buy" rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Oppenheimer decreased their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. B. Riley upped their target price on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $347.33.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the sale, the director now owns 11,012 shares of the company's stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fred B. Craves sold 3,400 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares of the company's stock, valued at approximately $5,114,380. This represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,363 shares of company stock valued at $5,382,326. 22.80% of the stock is owned by insiders.

Madrigal Pharmaceuticals Trading Up 2.5 %

MDGL traded up $7.79 on Friday, hitting $320.84. The company had a trading volume of 315,808 shares, compared to its average volume of 406,469. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $272.33 and its 200 day moving average price is $262.18. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping analysts' consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) earnings per share. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current year.

Madrigal Pharmaceuticals Company 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.