Artisan Partners Limited Partnership Acquires 4,683 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Artisan Partners Limited Partnership grew its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 206,254 shares of the biopharmaceutical company’s stock after purchasing an additional 4,683 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.91% of Madrigal Pharmaceuticals worth $94,600,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MDGL. Adage Capital Partners GP L.L.C. increased its holdings in Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock valued at $113,842,000 after buying an additional 184,554 shares during the period. Bank of America Corp DE boosted its position in Madrigal Pharmaceuticals by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after acquiring an additional 31,260 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 0.3% in the 2nd quarter. Hood River Capital Management LLC now owns 244,738 shares of the biopharmaceutical company’s stock valued at $74,068,000 after acquiring an additional 744 shares during the period. Invesco Ltd. increased its holdings in shares of Madrigal Pharmaceuticals by 50.7% in the 2nd quarter. Invesco Ltd. now owns 200,356 shares of the biopharmaceutical company’s stock valued at $60,636,000 after acquiring an additional 67,422 shares during the period. Finally, Norges Bank bought a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter worth $53,406,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several analyst reports. Piper Sandler lifted their target price on Madrigal Pharmaceuticals from $540.00 to $900.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Cantor Fitzgerald upgraded shares of Madrigal Pharmaceuticals from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 4th. Truist Financial boosted their price objective on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $685.31.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, Director Rebecca Taub sold 647 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $492.42, for a total value of $318,595.74. Following the sale, the director owned 452,704 shares in the company, valued at $222,920,503.68. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William John Sibold sold 1,577 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $492.42, for a total transaction of $776,546.34. Following the completion of the transaction, the chief executive officer owned 148,497 shares in the company, valued at approximately $73,122,892.74. This trade represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 99,537 shares of company stock worth $53,485,702. 21.50% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 3.1%

MDGL stock opened at $432.00 on Friday. The stock has a market capitalization of $9.91 billion, a PE ratio of -33.57 and a beta of -1.01. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00. The company has a quick ratio of 3.77, a current ratio of 4.01 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $509.49 and a 200 day moving average of $484.62.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($2.61). The company had revenue of $321.08 million during the quarter, compared to analysts’ expectations of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The company’s quarterly revenue was up 210.8% on a year-over-year basis. During the same period in the prior year, the business posted ($2.71) EPS. Sell-side analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.