Madrigal Pharmaceuticals (NASDAQ:MDGL) Shares Down 6%

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shares dropped 6% during mid-day trading on Wednesday . The stock traded as low as $204.60 and last traded at $205.20. Approximately 351,797 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 525,044 shares. The stock had previously closed at $218.38.

Analyst Ratings Changes

MDGL has been the topic of several analyst reports. B. Riley upgraded Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their target price for the company from $155.00 to $270.00 in a research note on Friday, March 15th. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, March 15th. JMP Securities lifted their target price on Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Evercore ISI lifted their target price on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $336.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $356.73.

Madrigal Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -9.70 and a beta of -0.47. The firm has a fifty day simple moving average of $243.29 and a two-hundred day simple moving average of $212.18.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) 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. On average, analysts expect that Madrigal Pharmaceuticals, Inc. will post -21.86 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul A. Friedman sold 26,270 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was 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 owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $112,909,164.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul A. Friedman sold 26,270 shares of the business’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 value of $6,467,411.30. Following the completion of the transaction, the director now directly owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 over the last quarter. 23.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its holdings in Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company’s stock valued at $490,000 after acquiring an additional 57 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in Madrigal Pharmaceuticals by 1.7% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 4,309 shares of the biopharmaceutical company’s stock valued at $629,000 after acquiring an additional 74 shares during the period. Global Retirement Partners LLC lifted its holdings in Madrigal Pharmaceuticals by 454.5% in the fourth quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Madrigal Pharmaceuticals by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company’s stock valued at $734,000 after acquiring an additional 124 shares during the period. Finally, Montag A & Associates Inc. lifted its holdings in Madrigal Pharmaceuticals by 223.3% in the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 134 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

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.