17,280 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,280 shares of the biopharmaceutical company’s stock, valued at approximately $5,332,000.

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

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL opened at $313.47 on Tuesday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a market cap of $6.84 billion, a PE ratio of -12.50 and a beta of -0.38. The stock’s fifty day simple moving average is $322.98 and its two-hundred day simple moving average is $285.80. Madrigal Pharmaceuticals, Inc. has a 1-year low of $189.00 and a 1-year high of $377.46.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities restated 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 reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, HC Wainwright raised their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.75.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the sale, the chief marketing officer now directly owns 457,310 shares in the company, valued at approximately $125,033,127.10. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Daly sold 15,470 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the completion of the transaction, the director now directly owns 1,912 shares in the company, valued at approximately $664,324.40. This represents a 89.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,560 shares of company stock worth $6,932,536 in the last 90 days. Insiders own 22.80% 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.