Wealth Enhancement Advisory Services LLC Invests $210,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 680 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MDGL. William Blair Investment Management LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter worth $114,717,000. Woodline Partners LP raised its holdings in shares of Madrigal Pharmaceuticals by 110.2% during the fourth quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company’s stock worth $95,384,000 after purchasing an additional 162,027 shares during the last quarter. Hood River Capital Management LLC purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at $39,447,000. Renaissance Technologies LLC increased its holdings in Madrigal Pharmaceuticals by 261.3% in the fourth quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company’s stock valued at $49,613,000 after buying an additional 116,285 shares in the last quarter. Finally, Norges Bank purchased a new position in Madrigal Pharmaceuticals in the fourth quarter valued at $35,514,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MDGL shares. JMP Securities reiterated a “market outperform” rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Canaccord Genuity Group upped their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. B. Riley reissued a “buy” rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Finally, UBS Group increased 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $420.63.

Madrigal Pharmaceuticals Stock Down 3.6%

Shares of NASDAQ:MDGL opened at $285.06 on Tuesday. The stock has a market cap of $6.33 billion, a P/E ratio of -11.37 and a beta of -1.08. The firm has a fifty day moving average price of $296.95 and a 200 day moving average price of $313.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46.

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

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.