Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul A. Friedman Sells 18,710 Shares

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Paul A. Friedman sold 18,710 shares of the firm's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $242.96, for a total value of $4,545,781.60. Following the completion of the transaction, the director now owns 185,735 shares of the company's stock, valued at approximately $45,126,175.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock traded up $1.58 during midday trading on Friday, reaching $243.04. 295,908 shares of the company were exchanged, compared to its average volume of 560,661. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -12.19 and a beta of -0.47. The firm's 50-day simple moving average is $239.37 and its 200-day simple moving average is $204.26. Madrigal Pharmaceuticals, Inc. has a 1 year low of $119.76 and a 1 year high of $322.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the business earned ($4.98) earnings per share. On average, analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -21.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen raised their price target on Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, March 15th. UBS Group raised their price target on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a "buy" rating in a research report on Friday, March 15th. B. Riley upgraded Madrigal Pharmaceuticals from a "sell" rating to a "neutral" rating and raised their price target for the company from $155.00 to $270.00 in a research report on Friday, March 15th. Oppenheimer raised their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an "outperform" rating in a research report on Friday, March 15th. Finally, Citigroup raised their price target on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a "buy" rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $377.40.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter worth about $1,209,000. American International Group Inc. lifted its stake in shares of Madrigal Pharmaceuticals by 8.2% in the 4th quarter. American International Group Inc. now owns 7,354 shares of the biopharmaceutical company's stock valued at $1,702,000 after purchasing an additional 558 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $940,000. Perceptive Advisors LLC lifted its stake in shares of Madrigal Pharmaceuticals by 21.3% in the 4th quarter. Perceptive Advisors LLC now owns 151,151 shares of the biopharmaceutical company's stock valued at $34,973,000 after purchasing an additional 26,514 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $332,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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.

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