Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire Sells 103 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 103 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $34,529.72. Following the completion of the transaction, the vice president now owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $310.92 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The business has a 50 day moving average price of $314.37 and a 200-day moving average price of $273.95. The firm has a market cap of $6.78 billion, a PE ratio of -12.40 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period last year, the business earned ($5.34) EPS. Equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $351.67.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH purchased a new stake in Madrigal Pharmaceuticals in the 3rd quarter worth approximately $49,749,000. Paulson & CO. Inc. boosted its holdings in Madrigal Pharmaceuticals by 10.4% in the third 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 purchased a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at $39,010,000. State Street Corp raised its holdings in Madrigal Pharmaceuticals by 19.2% in the 3rd 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 in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Madrigal Pharmaceuticals by 172.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after purchasing an additional 97,387 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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.