Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 340.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,087 shares of the biopharmaceutical company’s stock after acquiring an additional 4,704 shares during the quarter. Franklin Resources Inc.’s holdings in Madrigal Pharmaceuticals were worth $1,878,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $114,717,000. Norges Bank acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $35,514,000. Victory Capital Management Inc. lifted its stake in Madrigal Pharmaceuticals by 2,981.8% in the fourth quarter. Victory Capital Management Inc. now owns 70,635 shares of the biopharmaceutical company’s stock valued at $21,796,000 after buying an additional 68,343 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Madrigal Pharmaceuticals by 38.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 208,484 shares of the biopharmaceutical company’s stock valued at $64,332,000 after acquiring an additional 57,886 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $16,615,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Trading Up 3.2 %

Shares of Madrigal Pharmaceuticals stock opened at $317.15 on Monday. The business has a fifty day simple moving average of $331.33 and a 200-day simple moving average of $304.37. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of -12.65 and a beta of -0.69. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million. On average, equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. HC Wainwright boosted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, B. Riley upgraded Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their price target for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $378.44.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, General Counsel Shannon T. Kelley sold 277 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $75,734.57. Following the sale, the general counsel now owns 7,705 shares in the company, valued at approximately $2,106,624.05. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the transaction, the vice president now owns 3,728 shares of the company’s stock, valued at approximately $1,272,440.96. The trade was a 79.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock valued at $12,168,079 over the last ninety days. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals 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.