Madrigal Pharmaceuticals (NASDAQ:MDGL) Insider David Soergel Sells 844 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider David Soergel sold 844 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $515.90, for a total value of $435,419.60. Following the completion of the sale, the insider owned 11,075 shares of the company’s stock, valued at $5,713,592.50. The trade was a 7.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Trading Down 0.3%

Shares of MDGL stock opened at $522.23 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $615.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The firm has a market capitalization of $12.04 billion, a PE ratio of -40.80 and a beta of -1.04. The stock has a fifty day simple moving average of $499.88 and a two-hundred day simple moving average of $511.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million during the quarter, compared to analyst estimates of $301.05 million. During the same quarter in the prior year, the business posted ($3.32) EPS. Madrigal Pharmaceuticals’s revenue for the quarter was up 126.8% compared to the same quarter last year. On average, analysts predict that Madrigal Pharmaceuticals, Inc. will post -6.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDGL. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Citizens Jmp raised their price objective on Madrigal Pharmaceuticals from $527.00 to $745.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 20th. Bank of America cut their price objective on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Truist Financial raised their price objective on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright restated a “buy” rating and set a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP grew its position in Madrigal Pharmaceuticals by 8.4% in the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after acquiring an additional 165,683 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Madrigal Pharmaceuticals by 27.4% in the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock worth $1,051,727,000 after purchasing an additional 433,804 shares during the last quarter. Wellington Management Group LLP lifted its stake in Madrigal Pharmaceuticals by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company’s stock worth $268,693,000 after purchasing an additional 56,947 shares during the last quarter. Geode Capital Management LLC lifted its stake in Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company’s stock worth $263,114,000 after purchasing an additional 5,510 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Madrigal Pharmaceuticals by 17.6% in the third quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock worth $188,877,000 after purchasing an additional 61,513 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.