Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Sells $1,135,116.00 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLGet Free Report) Director Fred B. Craves sold 3,600 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $315.31, for a total transaction of $1,135,116.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $3,468,410. The trade was a 24.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Madrigal Pharmaceuticals Trading Up 2.5 %

Shares of Madrigal Pharmaceuticals stock opened at $320.84 on Friday. The company’s fifty day simple moving average is $272.33 and its 200-day simple moving average is $262.32. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -12.79 and a beta of -0.42. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company 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) EPS. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its stake in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares during the last quarter. Signaturefd LLC boosted its stake in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 39 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares in the last quarter. Quest Partners LLC boosted its stake in Madrigal Pharmaceuticals by 5,225.0% during the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares in the last quarter. Finally, Comerica Bank boosted its stake in Madrigal Pharmaceuticals by 615.4% during the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MDGL shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Oppenheimer cut their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Finally, B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $347.33.

View Our Latest Research Report on MDGL

Madrigal Pharmaceuticals Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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