Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director James M. Daly Sells 15,470 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director James M. Daly sold 15,470 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares of the company’s stock, valued at approximately $664,324.40. This represents a 89.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Madrigal Pharmaceuticals Trading Up 1.6 %

Madrigal Pharmaceuticals stock opened at $341.27 on Friday. The firm has a 50 day simple moving average of $322.27 and a 200-day simple moving average of $284.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The stock has a market capitalization of $7.44 billion, a PE ratio of -13.61 and a beta of -0.38. Madrigal Pharmaceuticals, Inc. has a 12-month low of $189.00 and a 12-month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. As a group, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Institutional Trading of Madrigal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Braidwell LP bought a new stake in Madrigal Pharmaceuticals during the third quarter worth approximately $39,010,000. Eagle Asset Management Inc. acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $6,875,000. Intech Investment Management LLC acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $1,280,000. Vestal Point Capital LP acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $6,367,000. Finally, Blueshift Asset Management LLC acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $393,000. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group raised their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their price target for the company from $236.00 to $422.00 in a research note on Thursday. HC Wainwright raised their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup raised their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $375.75.

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.