Handelsbanken Fonder AB Decreases Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Handelsbanken Fonder AB lessened its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 85.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,800 shares of the biopharmaceutical company's stock after selling 28,000 shares during the quarter. Handelsbanken Fonder AB's holdings in Madrigal Pharmaceuticals were worth $1,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 67 shares during the period. Farther Finance Advisors LLC raised its position in Madrigal Pharmaceuticals by 825.0% during the 1st 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 last quarter. Park Avenue Securities LLC purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth approximately $217,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Madrigal Pharmaceuticals by 11.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,009 shares of the biopharmaceutical company's stock worth $3,647,000 after buying an additional 1,105 shares during the last quarter. Finally, 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. Institutional investors own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDGL. B. Riley reiterated a "buy" rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. UBS Group increased their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Canaccord Genuity Group raised their target price 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. Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Finally, HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $420.63.

Madrigal Pharmaceuticals Trading Down 0.6%

MDGL stock opened at $295.57 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1-year low of $200.63 and a 1-year high of $377.46. The business has a 50 day simple moving average of $297.30 and a two-hundred day simple moving average of $314.40. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of -11.79 and a beta of -1.08.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same quarter in the prior year, the company posted ($7.38) EPS. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS 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.

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