First National Trust Co Acquires 4,470 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Key Points

• First National Trust Co has increased its stake in Madrigal Pharmaceuticals by 126.1% during the first quarter, holding 8,014 shares valued at approximately $2.65 million.
• Several analysts have issued buy ratings for Madrigal Pharmaceuticals, with price targets ranging from $420.00 to $460.00, indicating strong market confidence in the company's future performance.
• Madrigal Pharmaceuticals recently reported a surprising earnings performance with revenue of $137.25 million, exceeding analyst estimates and demonstrating resilience in their financial performance.

First National Trust Co boosted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 126.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,014 shares of the biopharmaceutical company's stock after acquiring an additional 4,470 shares during the quarter. First National Trust Co's holdings in Madrigal Pharmaceuticals were worth $2,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDGL. LPL Financial LLC raised its position in shares of Madrigal Pharmaceuticals by 10.1% in the 4th quarter. LPL Financial LLC now owns 5,220 shares of the biopharmaceutical company's stock valued at $1,611,000 after purchasing an additional 480 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Madrigal Pharmaceuticals by 166.2% in the 4th quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock valued at $1,128,000 after purchasing an additional 2,282 shares in the last quarter. Norges Bank acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $35,514,000. Franklin Resources Inc. raised its position in shares of Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock valued at $1,878,000 after purchasing an additional 4,704 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Madrigal Pharmaceuticals by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after purchasing an additional 4,923 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ:MDGL traded down $0.34 during midday trading on Friday, reaching $302.17. The company had a trading volume of 236,785 shares, compared to its average volume of 359,418. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -16.74 and a beta of -1.02. 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 fifty day simple moving average of $295.25 and a two-hundred day simple moving average of $311.48.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JMP Securities reissued a "market outperform" rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Canaccord Genuity Group increased their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. UBS Group increased their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Finally, B. Riley reissued a "buy" rating and issued a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $420.63.

Insider Transactions at Madrigal Pharmaceuticals

In related news, Director Paul A. Friedman sold 1,400 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $350.03, for a total value of $490,042.00. Following the transaction, the director directly owned 187,164 shares of the company's stock, valued at approximately $65,513,014.92. This trade represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca Taub sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the director directly owned 461,044 shares in the company, valued at $161,365,400. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,377 shares of company stock valued at $21,316,969 over the last ninety days. Company insiders own 21.50% of the company's stock.

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.