Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,364 shares of the biopharmaceutical company's stock after purchasing an additional 1,924 shares during the period. Rhumbline Advisers owned approximately 0.12% of Madrigal Pharmaceuticals worth $8,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MDGL. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth $70,000. Parallel Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 42.7% during the first quarter. Parallel Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 85 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $141,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Madrigal Pharmaceuticals during the fourth quarter worth $164,000. Finally, Graham Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at $203,000. Institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on MDGL. UBS Group raised their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Canaccord Genuity Group increased their target price on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup raised their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Finally, B. Riley restated a "buy" rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $420.63.

Madrigal Pharmaceuticals Stock Down 1.5%

Shares of NASDAQ MDGL traded down $4.51 during midday trading on Thursday, hitting $289.83. 130,502 shares of the company's stock were exchanged, compared to its average volume of 363,348. The firm's fifty day simple moving average is $297.71 and its 200-day simple moving average is $315.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company has a market cap of $6.44 billion, a PE ratio of -11.56 and a beta of -1.08. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46.

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

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.