656 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC acquired a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 656 shares of the biopharmaceutical company’s stock, valued at approximately $217,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company’s stock valued at $267,792,000 after buying an additional 84,305 shares during the period. Geode Capital Management LLC grew its holdings in shares of Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company’s stock valued at $126,719,000 after buying an additional 4,923 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $114,717,000. Woodline Partners LP grew its holdings in shares of 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 buying an additional 162,027 shares during the period. Finally, Rock Springs Capital Management LP grew its holdings in shares of Madrigal Pharmaceuticals by 0.8% in the 4th quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company’s stock valued at $81,836,000 after buying an additional 2,150 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

MDGL has been the topic of several research reports. UBS Group boosted their price objective on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. HC Wainwright boosted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $420.63.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $285.06 on Tuesday. The firm has a market cap of $6.33 billion, a PE ratio of -11.37 and a beta of -1.08. The firm’s fifty day moving average is $296.95 and its 200-day moving average is $313.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) EPS for the quarter, beating analysts’ consensus estimates of ($3.62) by $0.30. The firm had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period last year, the company posted ($7.38) EPS. Sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

About Madrigal Pharmaceuticals

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.