Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 76,537.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,085 shares of the biopharmaceutical company's stock after acquiring an additional 39,034 shares during the quarter. GAMMA Investing LLC owned 0.18% of Madrigal Pharmaceuticals worth $12,946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MDGL. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $70,000. GF Fund Management CO. LTD. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $141,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $164,000. Graham Capital Management L.P. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $203,000. Finally, Jump Financial LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at $210,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MDGL shares. Canaccord Genuity Group raised their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup lifted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, B. Riley reiterated a "buy" rating and set a $460.00 price objective (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $416.33.

Madrigal Pharmaceuticals Trading Up 1.5%

Shares of NASDAQ:MDGL traded up $4.13 during trading on Friday, reaching $278.23. 279,463 shares of the stock were exchanged, compared to its average volume of 370,464. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 12-month low of $200.63 and a 12-month high of $377.46. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of -11.09 and a beta of -1.08. The firm's 50-day moving average price is $300.10 and its 200 day moving average price is $315.95.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released 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. The company had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same period last year, the firm posted ($7.38) earnings per share. On average, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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.