Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock Price Down 3.3%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)’s stock price fell 3.3% during trading on Wednesday . The stock traded as low as $225.22 and last traded at $225.22. 43,731 shares were traded during trading, a decline of 92% from the average session volume of 525,723 shares. The stock had previously closed at $232.98.

Analyst Ratings Changes

Several equities analysts recently weighed in on MDGL shares. Evercore ISI raised their price objective on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Friday, April 12th. Oppenheimer raised their target price on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, March 15th. UBS Group upped their price target on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, B. Riley raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $155.00 to $270.00 in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.40.

Madrigal Pharmaceuticals Stock Performance

The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $244.25 and a two-hundred day simple moving average of $209.44.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the business earned ($4.98) earnings per share. Analysts expect that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current fiscal year.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 26,270 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the completion of the transaction, the director now owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Paul A. Friedman sold 26,270 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the completion of the sale, the director now directly owns 185,735 shares of the company’s stock, valued at approximately $45,726,099.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $245.99, for a total value of $658,269.24. Following the completion of the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at $112,909,164.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Avoro Capital Advisors LLC lifted its position in Madrigal Pharmaceuticals by 21.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,888,888 shares of the biopharmaceutical company’s stock valued at $437,051,000 after buying an additional 333,888 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Madrigal Pharmaceuticals by 7.4% in the third quarter. Vanguard Group Inc. now owns 1,573,338 shares of the biopharmaceutical company’s stock worth $229,770,000 after acquiring an additional 107,816 shares in the last quarter. Paulson & CO. Inc. raised its position in Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock valued at $255,846,000 after purchasing an additional 605,741 shares during the period. BlackRock Inc. grew its stake in shares of Madrigal Pharmaceuticals by 9.6% in the second quarter. BlackRock Inc. now owns 1,043,537 shares of the biopharmaceutical company’s stock valued at $241,057,000 after buying an additional 91,027 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Madrigal Pharmaceuticals by 17.1% during the 3rd quarter. State Street Corp now owns 966,641 shares of the biopharmaceutical company’s stock valued at $62,822,000 after buying an additional 141,334 shares during the period. Institutional investors and hedge funds 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.