Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Sells $120,847.22 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 442 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the sale, the vice president now directly owns 5,058 shares of the company’s stock, valued at $1,382,907.78. The trade was a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Madrigal Pharmaceuticals Stock Up 7.6 %

Shares of MDGL opened at $293.64 on Friday. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $314.19 and its 200-day moving average price is $272.69.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the firm earned ($5.34) earnings per share. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MDGL shares. UBS Group raised their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Finally, B. Riley raised their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $351.67.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Braidwell LP purchased a new stake in shares of Madrigal Pharmaceuticals in the third quarter valued at about $39,010,000. Eagle Asset Management Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $6,875,000. Intech Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter worth approximately $1,280,000. Vestal Point Capital LP purchased a new stake in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $6,367,000. Finally, Blueshift Asset Management LLC acquired a new position in Madrigal Pharmaceuticals in the third quarter valued at approximately $393,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.