Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Fred B. Craves Sells 3,400 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Fred B. Craves sold 3,400 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $350.30, for a total transaction of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares in the company, valued at $5,114,380. This trade represents a 18.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Madrigal Pharmaceuticals Stock Down 1.6 %

Shares of MDGL opened at $331.45 on Friday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals, Inc. has a 12 month low of $168.25 and a 12 month high of $368.29. The firm’s 50 day moving average is $260.42 and its 200-day moving average is $257.90. The stock has a market capitalization of $7.23 billion, a PE ratio of -13.22 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the prior year, the firm earned ($5.34) earnings per share. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 5.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after acquiring an additional 111,111 shares during the period. Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after purchasing an additional 192,000 shares during the last quarter. RTW Investments LP boosted its holdings in shares of Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock valued at $423,100,000 after purchasing an additional 77,825 shares in the last quarter. State Street Corp increased its stake in shares of Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after purchasing an additional 143,038 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after buying an additional 5,801 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. B. Riley raised their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Evercore ISI decreased their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer dropped their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $347.33.

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.