Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Acquired by Emerald Advisers LLC

Emerald Advisers LLC raised its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 75.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,909 shares of the biopharmaceutical company's stock after purchasing an additional 20,643 shares during the quarter. Emerald Advisers LLC owned 0.22% of Madrigal Pharmaceuticals worth $15,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Madrigal Pharmaceuticals by 7.9% during the first quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock valued at $8,733,000 after buying an additional 1,924 shares during the period. GAMMA Investing LLC grew its stake in shares of Madrigal Pharmaceuticals by 131.4% during the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 67 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 340.1% during the fourth quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock worth $1,878,000 after purchasing an additional 4,704 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth about $16,615,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 166.2% during the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after purchasing an additional 2,282 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Up 10.9%

MDGL traded up $33.83 during mid-day trading on Wednesday, hitting $344.97. 1,301,532 shares of the stock were exchanged, compared to its average volume of 361,722. The firm's fifty day moving average is $290.11 and its two-hundred day moving average is $312.00. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The company has a current ratio of 5.91, a quick ratio of 5.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.66 billion, a PE ratio of -19.11 and a beta of -1.05.

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, beating analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. Madrigal Pharmaceuticals had a negative return on equity of 50.54% and a negative net margin of 123.38%. During the same quarter last year, the company earned ($7.38) EPS. Equities analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDGL. Canaccord Genuity Group boosted their price target on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a report on Friday, May 2nd. B. Riley restated a "buy" rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. UBS Group upped their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, JMP Securities restated a "market outperform" rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $420.63.

About Madrigal Pharmaceuticals

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.