Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust raised its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 88.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,238 shares of the biopharmaceutical company's stock after acquiring an additional 16,582 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.16% of Madrigal Pharmaceuticals worth $11,672,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 825.0% in the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 99 shares during the period. GAMMA Investing LLC lifted its stake in shares of Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 67 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock valued at $52,000 after purchasing an additional 44 shares during the period. Parallel Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 42.7% in the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock valued at $94,000 after purchasing an additional 85 shares during the period. Finally, Kozak & Associates Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at about $104,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Up 0.3%

MDGL stock traded up $0.82 on Friday, hitting $315.46. 163,873 shares of the company were exchanged, compared to its average volume of 358,537. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.91 and a quick ratio of 5.58. The business's fifty day moving average is $288.60 and its two-hundred day moving average is $311.74. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of -17.48 and a beta of -1.05.

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

Analysts Set New Price Targets

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