Fred B. Craves Sells 3,400 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Fred B. Craves sold 3,400 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the sale, the director now directly owns 14,600 shares of the company’s stock, valued at $5,114,380. The trade was a 18.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Madrigal Pharmaceuticals Trading Down 1.5 %

Shares of MDGL traded down $5.16 during mid-day trading on Wednesday, reaching $331.58. The stock had a trading volume of 269,295 shares, compared to its average volume of 443,022. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29. The business has a fifty day moving average of $256.67 and a 200 day moving average of $256.86.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the business earned ($5.34) EPS. As a group, research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MDGL. B. Riley raised their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. UBS Group upped their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. HC Wainwright reiterated a “buy” rating and issued a $390.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Finally, Oppenheimer reduced their target price 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $347.33.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Erste Asset Management GmbH bought a new stake in Madrigal Pharmaceuticals in the third quarter worth $49,749,000. Paulson & CO. Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares during the period. Braidwell LP bought a new position in Madrigal Pharmaceuticals during the 3rd quarter valued at about $39,010,000. State Street Corp raised its position in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares during the period. Finally, Fiera Capital Corp bought a new stake in Madrigal Pharmaceuticals in the second quarter worth about $32,335,000. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

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.