Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Madrigal Pharmaceuticals Stock Up 8.1 %
Shares of Madrigal Pharmaceuticals stock traded up $25.96 on Wednesday, reaching $347.28. 684,309 shares of the company were exchanged, compared to its average volume of 442,402. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -13.85 and a beta of -0.38. 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, Inc. has a one year low of $189.00 and a one year high of $377.46. The company has a 50-day moving average of $323.17 and a 200 day moving average of $286.30.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61. The firm had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on MDGL shares. B. Riley upgraded 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. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Citigroup boosted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Finally, HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $375.75.
View Our Latest Report on MDGL
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MDGL. Paulson & CO. Inc. lifted its holdings in Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company's stock valued at $433,353,000 after purchasing an additional 192,000 shares during the last quarter. RTW Investments LP boosted its holdings in shares of Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company's stock worth $423,100,000 after buying an additional 77,825 shares during the period. State Street Corp grew its stake in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company's stock valued at $188,399,000 after buying an additional 143,038 shares during the last quarter. FMR LLC grew its stake in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after buying an additional 84,305 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after acquiring an additional 4,923 shares during the period. 98.50% of the stock is currently owned by institutional investors.
About Madrigal Pharmaceuticals
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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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