Rhumbline Advisers Has $8.73 Million Stock Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Rhumbline Advisers grew its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,364 shares of the biopharmaceutical company's stock after acquiring an additional 1,924 shares during the quarter. Rhumbline Advisers owned about 0.12% of Madrigal Pharmaceuticals worth $8,733,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Madrigal Pharmaceuticals by 340.1% in the fourth quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company's stock worth $1,878,000 after purchasing an additional 4,704 shares during the period. Raymond James Financial Inc. acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth about $16,615,000. Prudential Financial Inc. lifted its holdings in Madrigal Pharmaceuticals by 166.2% in the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company's stock worth $1,128,000 after purchasing an additional 2,282 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Madrigal Pharmaceuticals by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 150,746 shares of the biopharmaceutical company's stock worth $46,516,000 after purchasing an additional 2,776 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Madrigal Pharmaceuticals by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 34,923 shares of the biopharmaceutical company's stock worth $10,776,000 after purchasing an additional 5,604 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup boosted their price target on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $420.63.

Madrigal Pharmaceuticals Trading Down 0.6%

NASDAQ MDGL traded down $1.64 on Friday, hitting $295.57. 270,711 shares of the company were exchanged, compared to its average volume of 361,601. The firm has a market capitalization of $6.56 billion, a P/E ratio of -11.79 and a beta of -1.08. The company's 50 day moving average price is $297.30 and its 200-day moving average price is $314.40. Madrigal Pharmaceuticals, Inc. has a twelve month low of $200.63 and a twelve month high of $377.46. 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 (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.62) by $0.30. The company had revenue of $137.25 million for the quarter, compared to the consensus estimate of $112.79 million. During the same period in the previous year, the company earned ($7.38) EPS. Analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal 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.