Madrigal Pharmaceuticals (NASDAQ:MDGL) Trading Down 4.4% - What's Next?

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) were down 4.4% during trading on Friday . The company traded as low as $316.15 and last traded at $313.43. Approximately 307,810 shares traded hands during trading, a decline of 21% from the average daily volume of 388,709 shares. The stock had previously closed at $327.70.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group raised their price objective on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $443.00 target price on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. HC Wainwright lifted their price target on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company 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 note on Friday, May 2nd. Finally, B. Riley reiterated a "buy" rating and issued a $460.00 price target (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $416.33.

Madrigal Pharmaceuticals Price Performance

The stock has a market cap of $6.72 billion, a price-to-earnings ratio of -12.06 and a beta of -0.91. The company's 50 day moving average is $322.99 and its 200 day moving average is $315.75. 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 issued its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share 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 analyst estimates of $112.79 million. During the same quarter in the prior year, the company earned ($7.38) EPS. Research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Insider Activity

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 15,470 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares in the company, valued at $664,324.40. The trade was a 89.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert E. Waltermire sold 1,227 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the completion of the transaction, the vice president now directly owns 3,728 shares of the company's stock, valued at $1,271,508.96. The trade was a 24.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,810 shares of company stock valued at $10,610,594 over the last quarter. 22.80% of the stock is owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors have recently bought and sold shares of MDGL. FMR LLC increased its stake in Madrigal Pharmaceuticals by 10.8% in the 4th quarter. FMR LLC now owns 867,850 shares of the biopharmaceutical company's stock valued at $267,792,000 after purchasing an additional 84,305 shares in the last quarter. Geode Capital Management LLC raised its stake in Madrigal Pharmaceuticals by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 410,578 shares of the biopharmaceutical company's stock valued at $126,719,000 after acquiring an additional 4,923 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $114,717,000. Woodline Partners LP boosted its position in Madrigal Pharmaceuticals by 110.2% during the 4th quarter. Woodline Partners LP now owns 309,117 shares of the biopharmaceutical company's stock worth $95,384,000 after acquiring an additional 162,027 shares during the period. Finally, Rock Springs Capital Management LP boosted its holdings in 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 purchasing an additional 2,150 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.