Robert E. Waltermire Sells 1,227 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 1,227 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the transaction, the vice president now owns 3,728 shares in the company, valued at $1,271,508.96. The trade was a 24.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Madrigal Pharmaceuticals Stock Up 2.5 %

Shares of NASDAQ:MDGL opened at $321.32 on Wednesday. The business has a 50-day moving average price of $323.17 and a 200 day moving average price of $286.30. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -12.81 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 quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) 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 analyst estimates of $97.81 million. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $236.00 to $422.00 in a research note on Thursday, February 27th. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, HC Wainwright raised their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $375.75.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently bought and sold shares of MDGL. William Blair Investment Management LLC acquired a new position in Madrigal Pharmaceuticals in the 4th quarter valued at about $114,717,000. Erste Asset Management GmbH acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at about $49,749,000. Paulson & CO. Inc. grew its position in Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after acquiring an additional 192,000 shares in the last quarter. Braidwell LP acquired a new position in Madrigal Pharmaceuticals in the 3rd quarter valued at about $39,010,000. Finally, Woodline Partners LP grew its position in Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company’s stock valued at $95,384,000 after acquiring an additional 162,027 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.