Swiss National Bank Purchases 600 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Swiss National Bank increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,600 shares of the biopharmaceutical company’s stock after buying an additional 600 shares during the quarter. Swiss National Bank’s holdings in Madrigal Pharmaceuticals were worth $7,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Braidwell LP bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $39,010,000. Eagle Asset Management Inc. bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $6,875,000. Intech Investment Management LLC bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $1,280,000. Vestal Point Capital LP bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $6,367,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at about $393,000. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a report on Thursday, February 27th. HC Wainwright increased their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their target price for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. Finally, JMP Securities restated a “market outperform” rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.44.

Insider Buying and Selling

In other news, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the transaction, the vice president now directly owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Daly sold 15,470 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock valued at $12,168,079 in the last ninety days. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $341.62 on Friday. 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, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46. The firm has a market capitalization of $7.54 billion, a P/E ratio of -13.62 and a beta of -0.40. The company’s 50-day moving average is $327.53 and its 200 day moving average is $293.37.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data 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 firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.