Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) by 23.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,538 shares of the biopharmaceutical company's stock after purchasing an additional 5,182 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of Madrigal Pharmaceuticals worth $8,497,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $70,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Madrigal Pharmaceuticals in the 4th quarter valued at approximately $164,000. KBC Group NV grew its position in shares of Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company's stock worth $188,000 after buying an additional 258 shares during the period. Graham Capital Management L.P. bought a new position in Madrigal Pharmaceuticals during the 4th quarter valued at $203,000. Finally, Jump Financial LLC bought a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth $210,000. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on MDGL shares. UBS Group upped their target price on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a report on Friday, May 2nd. B. Riley reaffirmed a "buy" rating and set a $460.00 target price (up from $422.00) on shares of Madrigal Pharmaceuticals in a research report on Friday, May 2nd. Citigroup raised their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Wall Street Zen raised Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $416.33.

Madrigal Pharmaceuticals Stock Down 1.8%

NASDAQ MDGL traded down $5.09 during midday trading on Wednesday, hitting $279.32. 227,910 shares of the company traded hands, compared to its average volume of 379,326. The company has a market cap of $6.20 billion, a PE ratio of -11.14 and a beta of -0.91. 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's 50-day simple moving average is $303.13 and its 200-day simple moving average is $316.66. Madrigal Pharmaceuticals, Inc. has a 52 week low of $200.63 and a 52 week high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) 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 analyst estimates of $112.79 million. During the same quarter in the previous year, the business posted ($7.38) earnings per share. As a group, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share 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.