Richard S. Levy Sells 22,489 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLGet Rating) Director Richard S. Levy sold 22,489 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $293.15, for a total transaction of $6,592,650.35. Following the completion of the transaction, the director now directly owns 9,100 shares in the company, valued at approximately $2,667,665. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Madrigal Pharmaceuticals Stock Up 2.4 %

MDGL stock opened at $306.75 on Friday. The company’s 50 day moving average price is $176.06 and its 200 day moving average price is $106.44. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.59 and a current ratio of 1.59. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $52.33 and a fifty-two week high of $315.45. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -19.14 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Rating) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($4.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.05) by ($0.70). On average, equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -16.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Madrigal Pharmaceuticals from $203.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, December 19th. Cowen increased their price target on shares of Madrigal Pharmaceuticals from $129.00 to $309.00 in a research report on Tuesday, December 20th. B. Riley increased their price target on shares of Madrigal Pharmaceuticals from $75.00 to $194.00 in a research report on Monday, December 19th. Raymond James raised shares of Madrigal Pharmaceuticals from an “underperform” rating to a “market perform” rating in a research report on Monday, December 19th. Finally, UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $161.00 to $337.00 and gave the stock a “buy” rating in a research report on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.45.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Liberty One Investment Management LLC increased its stake in Madrigal Pharmaceuticals by 10.5% in the third quarter. Liberty One Investment Management LLC now owns 1,929 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 183 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Madrigal Pharmaceuticals by 0.6% in the third quarter. Nuveen Asset Management LLC now owns 35,221 shares of the biopharmaceutical company’s stock valued at $2,289,000 after purchasing an additional 205 shares during the last quarter. Forum Financial Management LP increased its stake in Madrigal Pharmaceuticals by 8.8% in the first quarter. Forum Financial Management LP now owns 2,976 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 240 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in Madrigal Pharmaceuticals by 1.2% in the third quarter. Parkman Healthcare Partners LLC now owns 21,590 shares of the biopharmaceutical company’s stock valued at $1,403,000 after purchasing an additional 254 shares during the last quarter. Finally, Credit Suisse AG increased its stake in Madrigal Pharmaceuticals by 3.4% in the second quarter. Credit Suisse AG now owns 8,473 shares of the biopharmaceutical company’s stock valued at $606,000 after purchasing an additional 279 shares during the last quarter. 67.98% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

(Get Rating)

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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