Landscape Capital Management L.L.C. Has $2.22 Million Stake in Madrigal Pharmaceuticals, Inc. $MDGL

Key Points

• Landscape Capital Management L.L.C. increased its holdings in Madrigal Pharmaceuticals by 85.1%, acquiring an additional 3,083 shares during the first quarter, bringing its total to 6,707 shares valued at approximately $2.22 million.
• Madrigal Pharmaceuticals reported a significant revenue increase of 1357.5% year-over-year, with revenues of $212.80 million, and beat earnings estimates with (-1.90) earnings per share.
• Analysts are optimistic about the stock, with an average price target of $459.25 and nine out of ten research analysts rating it as a "Buy."

Landscape Capital Management L.L.C. lifted its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 85.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,707 shares of the biopharmaceutical company's stock after acquiring an additional 3,083 shares during the period. Landscape Capital Management L.L.C.'s holdings in Madrigal Pharmaceuticals were worth $2,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new position in Madrigal Pharmaceuticals in the 1st quarter worth $25,000. Accent Capital Management LLC acquired a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $25,000. Summit Securities Group LLC bought a new position in shares of Madrigal Pharmaceuticals during the first quarter worth about $33,000. Farther Finance Advisors LLC raised its position in Madrigal Pharmaceuticals by 825.0% in the 1st quarter. Farther Finance Advisors LLC now owns 111 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 99 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Madrigal Pharmaceuticals by 131.4% during the 1st quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 67 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Cowen reaffirmed a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 26th. UBS Group reiterated a "buy" rating and set a $523.00 price objective (up previously from $458.00) on shares of Madrigal Pharmaceuticals in a research note on Tuesday, August 12th. JMP Securities raised their target price on shares of Madrigal Pharmaceuticals from $483.00 to $485.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 20th. TD Cowen boosted their target price on shares of Madrigal Pharmaceuticals from $390.00 to $554.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Finally, Canaccord Genuity Group increased their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $459.25.

Madrigal Pharmaceuticals Stock Performance

MDGL traded down $7.42 on Wednesday, reaching $428.70. The company had a trading volume of 153,249 shares, compared to its average volume of 379,999. The stock has a market cap of $9.52 billion, a P/E ratio of -33.36 and a beta of -1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $443.00. The company's fifty day moving average is $341.59 and its 200 day moving average is $321.10.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted 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 company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $158.94 million. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%.The firm's revenue for the quarter was up 1357.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($7.10) earnings per share. As a group, analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, Director Kenneth Bate sold 10,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $365.20, for a total value of $3,652,000.00. Following the completion of the sale, the director owned 2,627 shares of the company's stock, valued at $959,380.40. The trade was a 79.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William John Sibold sold 7,616 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $400.18, for a total transaction of $3,047,770.88. Following the transaction, the chief executive officer owned 109,753 shares in the company, valued at approximately $43,920,955.54. The trade was a 6.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 165,683 shares of company stock worth $61,921,142 and have sold 301,740 shares worth $109,461,331. Company insiders own 21.50% of the company's stock.

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.