Arizona State Retirement System Purchases 167 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Arizona State Retirement System raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 5.8% in the fourth quarter, HoldingsChannel reports. The fund owned 3,032 shares of the biopharmaceutical company’s stock after purchasing an additional 167 shares during the quarter. Arizona State Retirement System’s holdings in Madrigal Pharmaceuticals were worth $702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDGL. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Madrigal Pharmaceuticals by 389.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,292 shares of the biopharmaceutical company’s stock worth $530,000 after purchasing an additional 1,824 shares in the last quarter. AMI Asset Management Corp bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $1,104,000. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $302,000. Global Retirement Partners LLC increased its position in shares of Madrigal Pharmaceuticals by 454.5% during the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Everhart Financial Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $264,000. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDGL. Canaccord Genuity Group lifted their price target on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research note on Friday, March 15th. B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their target price for the company from $155.00 to $270.00 in a research report on Friday, March 15th. Oppenheimer lifted their price objective on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. TD Cowen increased their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Finally, Piper Sandler restated an “overweight” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a 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 $377.40.

Madrigal Pharmaceuticals Trading Down 2.7 %

Shares of MDGL stock opened at $222.26 on Friday. Madrigal Pharmaceuticals, Inc. has a 52-week low of $119.76 and a 52-week high of $322.67. The company has a market capitalization of $4.42 billion, a PE ratio of -11.15 and a beta of -0.47. 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’s fifty day moving average is $244.25 and its 200 day moving average is $209.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same quarter in the previous year, the firm earned ($4.98) earnings per share. On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.48 EPS for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the transaction, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James M. Daly sold 32,489 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $102.77, for a total value of $3,338,894.53. Following the transaction, the director now owns 1,198 shares of the company’s stock, valued at $123,118.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul A. Friedman sold 26,270 shares of the business’s 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 transaction, the director now owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The disclosure for this sale can be found here. Insiders have sold a total of 146,496 shares of company stock valued at $31,362,420 in the last ninety days. 23.92% of the stock is currently owned by corporate insiders.

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.