Intech Investment Management LLC Has $3.24 Million Position in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Intech Investment Management LLC increased its stake in Madrigal Pharmaceuticals by 21.0%, acquiring an additional 1,696 shares, raising their total holdings to 9,784 shares valued at approximately $3.24 million.
• Madrigal Pharmaceuticals reported earnings per share of ($1.90) for the last quarter, exceeding analysts' expectations, with revenue significantly up by 1357.5% year-over-year at $212.8 million.
• Several research firms have raised their price targets for Madrigal Pharmaceuticals, with TD Cowen setting a new price target of $554.00, highlighting a strong buy consensus among analysts.

Intech Investment Management LLC lifted its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,784 shares of the biopharmaceutical company's stock after acquiring an additional 1,696 shares during the period. Intech Investment Management LLC's holdings in Madrigal Pharmaceuticals were worth $3,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the first quarter worth $25,000. Accent Capital Management LLC acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth $25,000. Summit Securities Group LLC acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth $33,000. Farther Finance Advisors LLC boosted its stake in Madrigal Pharmaceuticals by 825.0% during the first quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 99 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $365.20, for a total value of $3,652,000.00. Following the sale, the director owned 2,627 shares in the company, valued at approximately $959,380.40. The trade was a 79.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul A. Friedman sold 129,172 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $370.24, for a total value of $47,824,641.28. Following the sale, the director owned 187,164 shares in the company, valued at approximately $69,295,599.36. This represents a 40.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 165,683 shares of company stock worth $61,921,142 and have sold 309,019 shares worth $112,705,072. 21.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on MDGL. TD Cowen lifted their price target on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Canaccord Genuity Group lifted their price objective on Madrigal Pharmaceuticals from $428.00 to $526.00 and gave the company a "buy" rating in a report on Friday. JMP Securities lifted their price target on Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a report on Wednesday, August 20th. UBS Group reaffirmed a "buy" rating and issued a $523.00 price target (up from $458.00) on shares of Madrigal Pharmaceuticals in a report on Tuesday, August 12th. Finally, Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $483.38.

Madrigal Pharmaceuticals Stock Up 0.3%

Shares of MDGL traded up $1.45 on Tuesday, hitting $427.05. The company's stock had a trading volume of 243,387 shares, compared to its average volume of 377,399. The company has a quick ratio of 4.78, a current ratio of 5.11 and a debt-to-equity ratio of 0.17. The firm's fifty day moving average price is $366.84 and its 200-day moving average price is $327.24. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $457.16. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of -33.23 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating the consensus estimate of ($3.48) by $1.58. The firm had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The business's quarterly revenue was up 1357.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($7.10) EPS. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

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.