Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Position Increased by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 12,546 shares of the biopharmaceutical company’s stock after acquiring an additional 105 shares during the period. California State Teachers Retirement System’s holdings in Madrigal Pharmaceuticals were worth $3,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MDGL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter worth approximately $70,000. GF Fund Management CO. LTD. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $141,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $164,000. KBC Group NV raised its stake in Madrigal Pharmaceuticals by 73.5% during the 4th quarter. KBC Group NV now owns 609 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 258 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $203,000. Institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Up 4.3%

Shares of MDGL stock opened at $284.41 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $200.63 and a 1 year high of $377.46. The stock has a market cap of $6.31 billion, a PE ratio of -11.34 and a beta of -0.91. The business’s fifty day moving average is $303.13 and its 200-day moving average is $316.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results 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 firm had revenue of $137.25 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter last year, the business posted ($7.38) earnings per share. Equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MDGL. HC Wainwright lifted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note 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. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. B. Riley reaffirmed a “buy” rating and set a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a research note on Friday, May 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $416.33.

About Madrigal Pharmaceuticals

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.