Hennion & Walsh Asset Management Inc. increased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,009 shares of the biopharmaceutical company's stock after purchasing 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 filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in Madrigal Pharmaceuticals by 7.9% in the 1st quarter. Rhumbline Advisers now owns 26,364 shares of the biopharmaceutical company's stock worth $8,733,000 after purchasing an additional 1,924 shares during the period. Parallel Advisors LLC boosted its stake in shares of Madrigal Pharmaceuticals by 42.7% during the 1st quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $94,000 after buying an additional 85 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Madrigal Pharmaceuticals by 76,537.3% during the 1st quarter. GAMMA Investing LLC now owns 39,085 shares of the biopharmaceutical company's stock worth $12,946,000 after buying an additional 39,034 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Madrigal Pharmaceuticals by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 12,546 shares of the biopharmaceutical company's stock worth $3,871,000 after buying an additional 105 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth about $210,000. 98.50% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Canaccord Genuity Group increased their price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group raised their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup raised their target price on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. HC Wainwright raised their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, B. Riley reiterated a "buy" rating and issued a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $416.33.
Get Our Latest Analysis on Madrigal Pharmaceuticals
Madrigal Pharmaceuticals Stock Performance
Madrigal Pharmaceuticals stock traded up $4.13 during trading hours on Friday, hitting $278.23. The company had a trading volume of 279,463 shares, compared to its average volume of 370,464. The firm has a market cap of $6.18 billion, a PE ratio of -11.09 and a beta of -1.08. 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 one year low of $200.63 and a one year high of $377.46. The firm has a 50-day moving average of $300.10 and a 200 day moving average of $315.86.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, beating the consensus estimate of ($3.62) by $0.30. The company had revenue of $137.25 million during the quarter, compared to the consensus estimate of $112.79 million. During the same period in the prior year, the company earned ($7.38) earnings per share. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.
About Madrigal Pharmaceuticals
(
Free Report)
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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