EP Wealth Advisors LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• EP Wealth Advisors LLC acquired a new position in Madrigal Pharmaceuticals during the first quarter with an investment valued at approximately $200,000.
• Madrigal Pharmaceuticals reported a significant increase in quarterly revenue of 1357.5% year-over-year, totaling $212.80 million, surpassing analyst expectations.
• The stock has seen increased institutional interest with 98.50% of its shares now owned by institutional investors and hedge funds.

EP Wealth Advisors LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 604 shares of the biopharmaceutical company's stock, valued at approximately $200,000.

Several other institutional investors have also recently modified their holdings of the company. Paulson & CO. Inc. increased its position in shares of Madrigal Pharmaceuticals by 2.8% during the 1st quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company's stock valued at $695,425,000 after purchasing an additional 57,523 shares during the last quarter. Braidwell LP bought a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $16,128,000. Quarry LP bought a new position in shares of Madrigal Pharmaceuticals during the 1st quarter valued at about $232,000. Nomura Holdings Inc. increased its position in shares of Madrigal Pharmaceuticals by 176.9% during the 1st quarter. Nomura Holdings Inc. now owns 1,692 shares of the biopharmaceutical company's stock valued at $560,000 after purchasing an additional 3,892 shares during the last quarter. Finally, Landscape Capital Management L.L.C. increased its position in shares of Madrigal Pharmaceuticals by 85.1% during the 1st quarter. Landscape Capital Management L.L.C. now owns 6,707 shares of the biopharmaceutical company's stock valued at $2,222,000 after purchasing an additional 3,083 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MDGL has been the topic of several recent research reports. TD Cowen increased their price objective on Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Cowen restated a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Canaccord Genuity Group raised their price target on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the stock a "buy" rating in a research report on Friday. JMP Securities raised their price target on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 20th. Finally, UBS Group restated a "buy" rating and set a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $483.38.

Insider Buying and Selling

In other news, Director Bros. Advisors Lp Baker bought 68,618 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $364.04 per share, for a total transaction of $24,979,696.72. Following the purchase, the director directly owned 1,859,091 shares in the company, valued at $676,783,487.64. This trade represents a 3.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William John Sibold sold 7,616 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $400.18, for a total value of $3,047,770.88. Following the completion of the transaction, the chief executive officer owned 109,753 shares of the company's stock, valued at approximately $43,920,955.54. The trade was a 6.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 165,683 shares of company stock worth $61,921,142 and have sold 309,019 shares worth $112,705,072. 21.50% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Trading Up 0.3%

NASDAQ MDGL traded up $1.45 on Tuesday, hitting $427.05. The company's stock had a trading volume of 243,387 shares, compared to its average volume of 343,324. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $457.16. The company has a current ratio of 5.11, a quick ratio of 4.78 and a debt-to-equity ratio of 0.17. The company's 50-day simple moving average is $369.63 and its 200 day simple moving average is $327.93. The firm has a market cap of $9.48 billion, a P/E ratio of -33.23 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating analysts' consensus estimates of ($3.48) by $1.58. The company had revenue of $212.80 million during the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm's revenue for the quarter was up 1357.5% compared to the same quarter last year. During the same quarter last year, the business posted ($7.10) EPS. Research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

Madrigal Pharmaceuticals 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.