Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Shannon Kelley Sells 1,077 Shares of Stock

Key Points

• Madrigal General Counsel Shannon Kelley sold 1,077 shares for $430,800 at an average price of $400; the sale was made under a pre-arranged Rule 10b5-1 plan. Kelley retained 10,397 shares after the transaction.
• Madrigal’s latest quarterly results beat analyst expectations, reporting earnings per share of $1.83 and revenue of $431.27 million, versus estimates of a $1.09 loss per share and $404.17 million in revenue.
• Analyst sentiment was generally positive: the stock carried a “Moderate Buy” consensus rating and an average price target of $706.87. Shares traded around $399.63 in the article.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) General Counsel Shannon Kelley sold 1,077 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $400.00, for a total transaction of $430,800.00. Following the completion of the transaction, the general counsel directly owned 10,397 shares in the company, valued at approximately $4,158,800. The trade was a 9.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Madrigal Pharmaceuticals Stock Down 0.1%

MDGL stock traded down $0.47 during mid-day trading on Friday, reaching $399.63. 1,086,326 shares of the company traded hands, compared to its average volume of 352,852. The company has a quick ratio of 2.94, a current ratio of 3.05 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average price is $489.63 and its 200 day moving average price is $497.94. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of -66.83 and a beta of -0.98. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $353.54 and a fifty-two week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The biopharmaceutical company reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of ($1.09) by $2.92. Madrigal Pharmaceuticals had a negative return on equity of 27.08% and a negative net margin of 10.89%. The company had revenue of $431.27 million for the quarter, compared to analyst estimates of $404.17 million. During the same quarter last year, the company earned ($5.08) earnings per share. As a group, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -6.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in Madrigal Pharmaceuticals by 27.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company's stock worth $1,051,727,000 after purchasing an additional 433,804 shares during the period. Jupiter Topco LLC purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $1,039,650,000. Paulson & CO. Inc. purchased a new position in Madrigal Pharmaceuticals during the 2nd quarter valued at about $719,524,000. BlackRock Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter valued at about $644,753,000. Finally, Wellington Management Group LLP increased its position in shares of Madrigal Pharmaceuticals by 18.8% during the second quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company's stock valued at $443,367,000 after buying an additional 130,756 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MDGL shares. UBS Group reaffirmed a "buy" rating and set a $735.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, October 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a report on Thursday, October 15th. Truist Financial restated a "buy" rating and set a $743.00 price target (up from $709.00) on shares of Madrigal Pharmaceuticals in a report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Madrigal Pharmaceuticals from $612.00 to $633.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Citigroup increased their price objective on shares of Madrigal Pharmaceuticals from $725.00 to $760.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $706.87.

Trending Headlines about Madrigal Pharmaceuticals

Here are the key news stories impacting Madrigal Pharmaceuticals this week:

• Positive Sentiment: New real-world studies presented at AASLD reported improvements in liver stiffness and cardiometabolic health markers among patients treated with Rezdiffra, supporting the drug’s potential in MASH. Madrigal announces new real-world Rezdiffra data
• Positive Sentiment: HC Wainwright reiterated a Strong Buy rating and forecast substantial earnings growth over the coming years. Canaccord Genuity also raised its price target to $633 and maintained a Buy rating. HC Wainwright estimates and rating
• Positive Sentiment: The company’s latest quarterly results beat analyst expectations for earnings and revenue, helping drive an earlier post-earnings rally. Madrigal shares rise after earnings beat
• Negative Sentiment: Several law firms have announced investigations into potential securities-law violations after Madrigal disclosed a whistleblower complaint in its November 3 quarterly report. The inquiries are preliminary allegations, not findings of wrongdoing, but add legal and reputational uncertainty and may be a near-term overhang for MDGL shares. Madrigal investigation alert

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for nonalcoholic steatohepatitis, now known as metabolic dysfunction-associated steatohepatitis (MASH), and other chronic liver diseases. The company is headquartered in West Conshohocken, Pennsylvania.

Madrigal's lead product is Rezdiffra (resmetirom), an orally administered thyroid hormone receptor beta agonist designed to target key drivers of liver disease, including hepatic fat accumulation and fibrosis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.