Insider Selling: Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells 26,270 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul A. Friedman sold 26,270 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the sale, the director now directly owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $245.27 on Friday. Madrigal Pharmaceuticals, Inc. has a one year low of $119.76 and a one year high of $322.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. The business has a fifty day moving average of $241.39 and a two-hundred day moving average of $206.65. The company has a market cap of $4.88 billion, a P/E ratio of -12.30 and a beta of -0.47.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same quarter in the prior year, the business earned ($4.98) earnings per share. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Montag A & Associates Inc. increased its position in shares of Madrigal Pharmaceuticals by 223.3% in the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 134 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $55,000. KBC Group NV purchased a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $60,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Madrigal Pharmaceuticals by 95.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 468 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDGL shares. HC Wainwright increased their price objective on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a report on Friday, March 15th. B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price objective for the company from $155.00 to $270.00 in a report on Friday, March 15th. UBS Group increased their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a report on Friday, March 15th. Canaccord Genuity Group increased their price objective on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Evercore ISI increased their price target on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $377.40.

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.