Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) 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 - Get Free Report) 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.
Read Our Latest Research Report on MDGL
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
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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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