Madrigal Pharmaceuticals (NASDAQ:MDGL) Director Richard Levy Sells 5,682 Shares of Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Richard Levy sold 5,682 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total value of $2,928,730.08. Following the completion of the sale, the director owned 22,015 shares of the company’s stock, valued at $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Madrigal Pharmaceuticals Stock Up 0.7%

Madrigal Pharmaceuticals stock opened at $517.26 on Friday. The stock has a market capitalization of $11.93 billion, a PE ratio of -40.41 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a 12 month low of $265.00 and a 12 month high of $615.00. The business has a 50 day simple moving average of $506.40 and a 200-day simple moving average of $513.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Truist Financial lifted their price target on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $620.00 price target on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. Bank of America lowered their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Finally, Barclays started coverage on Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $964.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $687.00.

Institutional Trading of Madrigal Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $36,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Madrigal Pharmaceuticals in the third quarter worth approximately $39,000. Kemnay Advisory Services Inc. acquired a new position in Madrigal Pharmaceuticals during the fourth quarter worth $39,000. Finally, Quarry LP acquired a new position in Madrigal Pharmaceuticals during the third quarter worth $39,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.