Robert E. Waltermire Sells 442 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 442 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $120,847.22. Following the sale, the vice president now directly owns 5,058 shares in the company, valued at $1,382,907.78. This represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Madrigal Pharmaceuticals Trading Up 7.6 %

MDGL opened at $293.64 on Friday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The stock has a market cap of $6.40 billion, a PE ratio of -11.71 and a beta of -0.36. 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 business has a 50 day moving average of $314.19 and a 200-day moving average of $272.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The business had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the business posted ($5.34) earnings per share. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on MDGL shares. HC Wainwright raised their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, Oppenheimer cut their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Avoro Capital Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after buying an additional 111,111 shares during the period. Paulson & CO. Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 10.4% in the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares during the period. RTW Investments LP grew its position in Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after acquiring an additional 77,825 shares during the last quarter. State Street Corp increased its stake in Madrigal Pharmaceuticals by 19.2% in the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Madrigal Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 5,801 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

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.