1,003 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Acquired by Blair William & Co. IL

Blair William & Co. IL bought a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,003 shares of the biopharmaceutical company’s stock, valued at approximately $332,000.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Madrigal Pharmaceuticals by 7.9% during the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company’s stock worth $8,733,000 after buying an additional 1,924 shares during the period. GAMMA Investing LLC increased its stake in Madrigal Pharmaceuticals by 131.4% during the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 67 shares during the period. Franklin Resources Inc. increased its position in shares of Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company’s stock valued at $1,878,000 after purchasing an additional 4,704 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $16,615,000. Finally, XTX Topco Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $392,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MDGL. 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. 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. JMP Securities reissued 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 increased their price objective on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.43.

Madrigal Pharmaceuticals Trading Up 1.1%

NASDAQ MDGL opened at $349.50 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.11 and a quick ratio of 4.78. The firm’s fifty day moving average price is $303.20 and its 200 day moving average price is $312.98. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of -27.20 and a beta of -1.02. Madrigal Pharmaceuticals, Inc. has a 12 month low of $200.63 and a 12 month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating analysts’ consensus estimates of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company’s revenue was up 1357.5% on a year-over-year basis. During the same period last year, the firm posted ($7.10) EPS. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul A. Friedman sold 1,400 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $350.03, for a total transaction of $490,042.00. Following the completion of the sale, the director owned 187,164 shares in the company, valued at $65,513,014.92. This represents a 0.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rebecca Taub sold 1,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the director owned 461,044 shares of the company’s stock, valued at approximately $161,365,400. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,377 shares of company stock valued at $21,316,969. 21.50% of the stock is owned by company insiders.

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.