Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Free Report) shares were up 8.2% during trading on Friday . The stock traded as high as $234.47 and last traded at $233.68. Approximately 261,858 shares changed hands during trading, a decline of 50% from the average daily volume of 520,852 shares. The stock had previously closed at $216.05.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Bank of America initiated coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 target price on the stock. TD Cowen increased their target price on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their target price for the company from $155.00 to $270.00 in a research note on Friday, March 15th. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.73.
Get Our Latest Research Report on MDGL
Madrigal Pharmaceuticals Price Performance
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the company earned ($4.98) EPS. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -21.86 EPS for the current fiscal year.
Insider Buying and Selling
In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 10,298 shares in the company, valued at $2,651,529.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Rebecca Taub sold 27,506 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $243.36, for a total value of $6,693,860.16. Following the completion of the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $111,701,996.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the transaction, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,496 shares of company stock valued at $31,362,420. Company insiders own 23.92% of the company’s stock.
Institutional Trading of Madrigal Pharmaceuticals
A number of institutional investors have recently bought and sold shares of MDGL. Tower Research Capital LLC TRC raised its position in shares of Madrigal Pharmaceuticals by 21.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $301,000 after buying an additional 367 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Madrigal Pharmaceuticals by 53.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,567 shares of the biopharmaceutical company’s stock valued at $229,000 after acquiring an additional 544 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Madrigal Pharmaceuticals in the third quarter worth $314,000. Charles Schwab Investment Management Inc. raised its stake in Madrigal Pharmaceuticals by 11.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,501 shares of the biopharmaceutical company’s stock valued at $15,992,000 after purchasing an additional 11,083 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Madrigal Pharmaceuticals by 7.4% during the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after purchasing an additional 107,816 shares during the period. 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.
Recommended Stories
- Five stocks we like better than Madrigal Pharmaceuticals
- Canadian Penny Stocks: Can They Make You Rich?
- MarketBeat Week in Review – 4/29 – 5/3
- 3 Small Caps With Big Return Potential
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- How to Invest in Blue Chip Stocks
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.