Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells $5,375,051.50 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director James M. Daly sold 15,470 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the sale, the director now owns 1,912 shares of the company’s stock, valued at $664,324.40. This represents a 89.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL opened at $341.27 on Friday. The stock has a 50 day moving average price of $322.93 and a 200 day moving average price of $284.74. Madrigal Pharmaceuticals, Inc. has a 52 week low of $189.00 and a 52 week high of $377.46. 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 stock has a market capitalization of $7.44 billion, a PE ratio of -13.61 and a beta of -0.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to analyst estimates of $97.81 million. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on MDGL. B. Riley raised Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and boosted their target price for the company from $236.00 to $422.00 in a research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup boosted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Madrigal Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Braidwell LP acquired a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $39,010,000. Eagle Asset Management Inc. acquired a new position in Madrigal Pharmaceuticals during the third quarter valued at approximately $6,875,000. Intech Investment Management LLC bought a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $1,280,000. Vestal Point Capital LP bought a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $6,367,000. Finally, Blueshift Asset Management LLC bought a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $393,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Madrigal Pharmaceuticals Company 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.