Hennion & Walsh Asset Management Inc. Purchases 1,105 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Hennion & Walsh Asset Management Inc. raised its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,009 shares of the biopharmaceutical company's stock after buying an additional 1,105 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Madrigal Pharmaceuticals were worth $3,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Madrigal Pharmaceuticals in the fourth quarter valued at approximately $114,717,000. Woodline Partners LP lifted its position in shares of Madrigal Pharmaceuticals by 110.2% in the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock worth $95,384,000 after purchasing an additional 162,027 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $39,447,000. Renaissance Technologies LLC boosted its stake in shares of Madrigal Pharmaceuticals by 261.3% in the 4th quarter. Renaissance Technologies LLC now owns 160,782 shares of the biopharmaceutical company's stock valued at $49,613,000 after purchasing an additional 116,285 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth $35,514,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Stock Up 1.5%

MDGL traded up $4.13 during trading on Friday, hitting $278.23. 279,463 shares of the company's stock were exchanged, compared to its average volume of 371,911. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The stock has a market cap of $6.18 billion, a P/E ratio of -11.09 and a beta of -0.91. The business's 50 day moving average is $301.01 and its two-hundred day moving average is $316.20. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted 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 business 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 company earned ($7.38) EPS. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group upped their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Citigroup boosted their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. B. Riley reaffirmed 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. JMP Securities reiterated a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $416.33.

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.