William John Sibold Sells 1,584 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Madrigal Pharmaceuticals Stock Down 0.3 %

Madrigal Pharmaceuticals stock opened at $326.33 on Thursday. The business’s 50-day simple moving average is $314.96 and its two-hundred day simple moving average is $274.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a market cap of $7.12 billion, a PE ratio of -13.01 and a beta of -0.36. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the prior year, the company earned ($5.34) EPS. Equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MDGL. JMP Securities reissued a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Oppenheimer decreased their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group lifted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. HC Wainwright increased their price objective on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $351.67.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently made changes to their positions in MDGL. Erste Asset Management GmbH acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $49,749,000. Paulson & CO. Inc. raised its position in shares of Madrigal Pharmaceuticals by 10.4% in the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after acquiring an additional 192,000 shares during the period. Braidwell LP acquired a new position in shares of Madrigal Pharmaceuticals in the third quarter worth about $39,010,000. State Street Corp grew its position in shares of Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after acquiring an additional 143,038 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Madrigal Pharmaceuticals by 172.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock valued at $11,475,000 after purchasing an additional 97,387 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other 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.