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

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the sale, the director now directly owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $341.27 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The firm has a market cap of $7.44 billion, a P/E ratio of -13.61 and a beta of -0.38. The business’s fifty day moving average is $322.93 and its two-hundred day moving average is $284.74. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Paulson & CO. Inc. raised its position in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after acquiring an additional 192,000 shares during the last quarter. RTW Investments LP raised its position in shares of Madrigal Pharmaceuticals by 4.1% during the third quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares during the last quarter. State Street Corp raised its position in shares of Madrigal Pharmaceuticals by 19.2% during the third quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares during the last quarter. FMR LLC raised its position in shares of Madrigal Pharmaceuticals by 10.8% during the fourth quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock worth $267,792,000 after acquiring an additional 84,305 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Madrigal Pharmaceuticals by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock worth $126,719,000 after acquiring an additional 4,923 shares during the last quarter. 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.