6,032 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,032 shares of the biopharmaceutical company’s stock, valued at approximately $1,280,000.

Other large investors also recently made changes to their positions in the company. Fiera Capital Corp acquired a new stake in Madrigal Pharmaceuticals during the second quarter valued at approximately $32,335,000. Avoro Capital Advisors LLC increased its holdings in shares of Madrigal Pharmaceuticals by 5.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after buying an additional 111,111 shares in the last quarter. Artal Group S.A. acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter valued at $29,510,000. Point72 Asset Management L.P. boosted its stake in shares of Madrigal Pharmaceuticals by 172.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after acquiring an additional 97,387 shares in the last quarter. Finally, Paulson & CO. Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 4.2% in the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after acquiring an additional 75,000 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

MDGL has been the subject of a number of recent analyst reports. Oppenheimer decreased their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. B. Riley raised their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Evercore ISI decreased their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $347.33.

Madrigal Pharmaceuticals Stock Down 2.4 %

MDGL opened at $336.74 on Wednesday. Madrigal Pharmaceuticals, Inc. has a twelve month low of $168.25 and a twelve month high of $368.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The business has a 50 day moving average price of $254.60 and a 200 day moving average price of $255.94. The firm has a market cap of $7.34 billion, a P/E ratio of -13.43 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) earnings per share. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is currently 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.