D.A. Davidson & CO. Has $720,000 Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

D.A. Davidson & CO. increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 203.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,173 shares of the biopharmaceutical company's stock after purchasing an additional 1,458 shares during the quarter. D.A. Davidson & CO.'s holdings in Madrigal Pharmaceuticals were worth $720,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Pitcairn Co. raised its holdings in Madrigal Pharmaceuticals by 3.2% in the 4th quarter. Pitcairn Co. now owns 1,060 shares of the biopharmaceutical company's stock valued at $327,000 after acquiring an additional 33 shares during the period. First Horizon Advisors Inc. raised its holdings in Madrigal Pharmaceuticals by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after acquiring an additional 44 shares during the period. GAMMA Investing LLC raised its holdings in Madrigal Pharmaceuticals by 131.4% in the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 67 shares during the period. Verity Asset Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 4.7% during the first quarter. Verity Asset Management Inc. now owns 1,560 shares of the biopharmaceutical company's stock worth $517,000 after purchasing an additional 70 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 6.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $398,000 after purchasing an additional 71 shares during the period. 98.50% of the stock is owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded up $0.82 during trading hours on Friday, hitting $315.46. 163,873 shares of the stock were exchanged, compared to its average volume of 358,293. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.58 and a current ratio of 5.91. The company has a market cap of $7.00 billion, a PE ratio of -17.48 and a beta of -1.05. The company's fifty day simple moving average is $288.60 and its two-hundred day simple moving average is $311.73. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. Madrigal Pharmaceuticals had a negative net margin of 123.38% and a negative return on equity of 50.54%. During the same quarter last year, the business posted ($7.38) EPS. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. B. Riley reaffirmed a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Finally, UBS Group raised their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $420.63.

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.