Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire Sells 1,227 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) VP Robert E. Waltermire sold 1,227 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total transaction of $418,492.89. Following the transaction, the vice president now directly owns 3,728 shares in the company, valued at approximately $1,271,508.96. The trade was a 24.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Madrigal Pharmaceuticals Stock Performance

MDGL traded up $7.85 during trading on Tuesday, reaching $321.32. 679,498 shares of the company’s stock were exchanged, compared to its average volume of 439,286. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $189.00 and a fifty-two week high of $377.46. 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 business has a 50 day moving average price of $323.17 and a 200 day moving average price of $286.30. The company has a market capitalization of $7.09 billion, a P/E ratio of -12.81 and a beta of -0.38.

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

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in MDGL. William Blair Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $114,717,000. Erste Asset Management GmbH acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $49,749,000. Paulson & CO. Inc. boosted its stake in shares of Madrigal Pharmaceuticals by 10.4% in the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after purchasing an additional 192,000 shares in the last quarter. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,010,000. Finally, Woodline Partners LP boosted its stake in shares of Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company’s stock valued at $95,384,000 after purchasing an additional 162,027 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MDGL. JMP Securities reissued a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Citigroup lifted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. B. Riley raised shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. HC Wainwright raised their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $375.75.

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.