J. Goldman & Co LP Buys New Shares in Madrigal Pharmaceuticals, Inc. $MDGL

J. Goldman & Co LP purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,069 shares of the biopharmaceutical company’s stock, valued at approximately $2,722,000.

Other hedge funds also recently bought and sold shares of the company. Persistent Asset Partners Ltd purchased a new position in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at about $29,000. Global Retirement Partners LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $34,000. Kemnay Advisory Services Inc. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $39,000. Quarry LP acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at approximately $39,000. Finally, Johnson Financial Group Inc. purchased a new position in Madrigal Pharmaceuticals in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider directly owned 10,033 shares in the company, valued at approximately $4,973,759.42. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Shannon T. Kelley sold 664 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the sale, the general counsel directly owned 11,474 shares of the company’s stock, valued at $5,908,765.78. The trade was a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MDGL. UBS Group reiterated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Friday, July 31st. Wells Fargo & Company started coverage on Madrigal Pharmaceuticals in a report on Monday, July 27th. They issued an “overweight” rating and a $685.00 price target for the company. Evercore set a $649.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Piper Sandler restated an “overweight” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Bank of America lowered their target price on shares of Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $699.64.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL opened at $512.16 on Wednesday. The company has a current ratio of 3.20, a quick ratio of 2.94 and a debt-to-equity ratio of 0.65. The firm has a market cap of $11.83 billion, a PE ratio of -39.73 and a beta of -1.01. The company’s 50 day simple moving average is $524.86 and its 200-day simple moving average is $501.54. Madrigal Pharmaceuticals, Inc. has a 12-month low of $393.61 and a 12-month high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($1.99) EPS for the quarter, beating analysts’ consensus estimates of ($2.68) by $0.69. The business had revenue of $364.25 million for the quarter, compared to analysts’ expectations of $352.13 million. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The company’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.90) EPS. As a group, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

Madrigal Pharmaceuticals Profile

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.