Madrigal Pharmaceuticals (NASDAQ:MDGL) Trading Up 3.8%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shares traded up 3.8% during mid-day trading on Friday . The company traded as high as $278.08 and last traded at $278.08. 79,432 shares were traded during trading, a decline of 85% from the average session volume of 522,054 shares. The stock had previously closed at $267.79.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America started coverage on Madrigal Pharmaceuticals in a report on Monday, April 22nd. They issued an “underperform” rating and a $150.00 target price on the stock. Oppenheimer lifted their target price on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Wolfe Research began coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, June 11th. They set an “outperform” rating and a $382.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, March 14th. Finally, Evercore ISI boosted their price objective on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.17.

Madrigal Pharmaceuticals Trading Up 4.0 %

The company has a market capitalization of $5.93 billion, a P/E ratio of -12.06 and a beta of -0.41. The business has a fifty day moving average of $232.85 and a 200-day moving average of $234.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.39 and a current ratio of 9.39.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32). During the same quarter in the previous year, the business posted ($4.23) EPS. Analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.62 earnings per share for the current fiscal year.

Insider Transactions at Madrigal Pharmaceuticals

In related news, VP Robert E. Waltermire sold 1,036 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $231.34, for a total transaction of $239,668.24. Following the completion of the sale, the vice president now owns 5,500 shares in the company, valued at $1,272,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Robert E. Waltermire sold 1,036 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $231.34, for a total transaction of $239,668.24. Following the transaction, the vice president now directly owns 5,500 shares in the company, valued at $1,272,370. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 11,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the sale, the director now owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Insiders sold a total of 173,921 shares of company stock valued at $37,491,547 over the last ninety days. 23.92% of the stock is currently owned by insiders.

Institutional Trading of Madrigal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 2.9% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,944,444 shares of the biopharmaceutical company’s stock valued at $519,244,000 after acquiring an additional 55,556 shares during the period. Vanguard Group Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock worth $445,638,000 after purchasing an additional 94,064 shares during the period. Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after purchasing an additional 605,741 shares during the last quarter. RTW Investments LP grew its holdings in Madrigal Pharmaceuticals by 163.4% during the fourth quarter. RTW Investments LP now owns 815,191 shares of the biopharmaceutical company’s stock valued at $188,619,000 after purchasing an additional 505,706 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Madrigal Pharmaceuticals by 106.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock worth $214,491,000 after buying an additional 414,484 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.