Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Richard S. Levy sold 5,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares in the company, valued at $3,313,951.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Madrigal Pharmaceuticals Price Performance
Shares of MDGL stock opened at $337.61 on Wednesday. The company has a market capitalization of $7.36 billion, a PE ratio of -13.46 and a beta of -0.46. The firm has a fifty day simple moving average of $230.57 and a 200-day simple moving average of $244.46. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a twelve month low of $133.99 and a twelve month high of $337.63.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts' expectations of $34.60 million. During the same quarter last year, the company posted ($5.34) earnings per share. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.27 earnings per share for the current fiscal year.
Analyst Ratings Changes
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MDGL has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. JMP Securities upped their price target on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 16th. Oppenheimer dropped their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. B. Riley upped their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Citigroup dropped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $347.33.
Get Our Latest Report on MDGL
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Castleark Management LLC purchased a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $2,459,000. Susquehanna Fundamental Investments LLC acquired a new position in Madrigal Pharmaceuticals during the 1st quarter worth $584,000. Russell Investments Group Ltd. acquired a new position in Madrigal Pharmaceuticals during the 1st quarter worth $1,466,000. Sofinnova Investments Inc. grew its holdings in Madrigal Pharmaceuticals by 133.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 44,417 shares of the biopharmaceutical company's stock worth $12,444,000 after acquiring an additional 25,388 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Madrigal Pharmaceuticals during the 1st quarter worth $961,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
About Madrigal Pharmaceuticals
(
Get Free Report)
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.
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