Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul A. Friedman Sells 43,605 Shares

Key Points

• Madrigal Pharmaceuticals' Director Paul A. Friedman sold 43,605 shares of stock for **$15,509,426.40**, reducing his stake by **18.90%** to 187,164 shares valued at approximately **$66.57 million**.
• The company's stock **traded up by $14.46** to $373.46, with a market capitalization of **$8.29 billion** and a significant increase in quarterly revenue by **1357.5%** year-over-year, totaling **$212.80 million**.
• Analysts maintain a **"Moderate Buy"** consensus for Madrigal Pharmaceuticals' stock, with price target upgrades from various firms suggesting potential future growth.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Paul A. Friedman sold 43,605 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $355.68, for a total value of $15,509,426.40. Following the transaction, the director owned 187,164 shares in the company, valued at $66,570,491.52. This trade represents a 18.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded down $0.31 on Monday, hitting $369.53. The company's stock had a trading volume of 207,181 shares, compared to its average volume of 376,229. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. The stock's 50 day moving average is $310.35 and its 200-day moving average is $314.18. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The company has a market capitalization of $8.20 billion, a PE ratio of -28.62 and a beta of -1.02.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping analysts' consensus estimates of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. The company had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. During the same quarter last year, the business earned ($7.10) earnings per share. Madrigal Pharmaceuticals's revenue was up 1357.5% on a year-over-year basis. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MDGL shares. JMP Securities reiterated a "market outperform" rating and set a $443.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. 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. Wall Street Zen upgraded Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Finally, B. Riley restated a "buy" rating and issued a $460.00 price target (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $439.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Paulson & CO. Inc. grew its position in Madrigal Pharmaceuticals by 2.8% in the first quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company's stock valued at $695,425,000 after acquiring an additional 57,523 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company's stock valued at $113,842,000 after purchasing an additional 184,554 shares in the last quarter. Woodline Partners LP increased its stake in shares of Madrigal Pharmaceuticals by 2.7% in the first quarter. Woodline Partners LP now owns 317,433 shares of the biopharmaceutical company's stock valued at $105,143,000 after buying an additional 8,316 shares during the period. Bank of America Corp DE lifted its stake in shares of Madrigal Pharmaceuticals by 12.7% in the second quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company's stock worth $83,898,000 after acquiring an additional 31,260 shares during the period. Finally, Rock Springs Capital Management LP lifted its stake in shares of Madrigal Pharmaceuticals by 0.8% in the fourth quarter. Rock Springs Capital Management LP now owns 265,212 shares of the biopharmaceutical company's stock worth $81,836,000 after acquiring an additional 2,150 shares during the period. Institutional investors own 98.50% of the company's stock.

Madrigal Pharmaceuticals Company 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.