Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) rose 7.4% during trading on Friday . The stock traded as high as $277.96 and last traded at $293.05. Approximately 200,354 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 428,451 shares. The stock had previously closed at $272.79.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on MDGL shares. JMP Securities reaffirmed a "market outperform" rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley upped their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer decreased their target price 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. Finally, UBS Group increased their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $351.67.
Read Our Latest Stock Report on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Stock Up 7.2 %
The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -11.70 and a beta of -0.36. The firm's fifty day moving average is $315.33 and its 200-day moving average is $272.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS 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 last year, the business posted ($5.34) earnings per share. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Fred B. Craves sold 3,400 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the transaction, the director now directly owns 14,600 shares in the company, valued at approximately $5,114,380. This trade represents a 18.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now directly owns 11,012 shares of the company's stock, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock valued at $3,830,836 over the last 90 days. 22.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Braidwell LP acquired a new position in shares of Madrigal Pharmaceuticals during the third quarter valued at $39,010,000. Eagle Asset Management Inc. bought a new position in Madrigal Pharmaceuticals in the 3rd quarter worth about $6,875,000. Intech Investment Management LLC bought a new position in Madrigal Pharmaceuticals in the 3rd quarter worth about $1,280,000. Vestal Point Capital LP acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at approximately $6,367,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at approximately $393,000. 98.50% of the stock is currently owned by institutional investors.
About Madrigal Pharmaceuticals
(
Get Free Report)
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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