David Soergel Sells 844 Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) insider David Soergel sold 844 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $515.90, for a total value of $435,419.60. Following the completion of the sale, the insider directly owned 11,075 shares in the company, valued at approximately $5,713,592.50. This represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Madrigal Pharmaceuticals Trading Down 2.0%

Madrigal Pharmaceuticals stock opened at $511.82 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. The business’s 50-day simple moving average is $501.46 and its 200-day simple moving average is $512.19. The firm has a market capitalization of $11.80 billion, a PE ratio of -39.99 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a 52 week low of $265.00 and a 52 week high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The company had revenue of $311.34 million for the quarter, compared to the consensus estimate of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The company’s quarterly revenue was up 126.8% on a year-over-year basis. During the same period in the previous year, the business earned ($3.32) earnings per share. Equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -6.49 earnings per share for the current year.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of large investors have recently bought and sold shares of MDGL. Flagship Harbor Advisors LLC acquired a new position in Madrigal Pharmaceuticals during the 4th quarter worth $29,000. First Horizon Corp acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter worth $34,000. Aventura Private Wealth LLC acquired a new position in Madrigal Pharmaceuticals during the 4th quarter worth $36,000. Aster Capital Management DIFC Ltd acquired a new position in Madrigal Pharmaceuticals during the 3rd quarter worth $39,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Madrigal Pharmaceuticals during the 4th quarter worth $39,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent research reports. Bank of America decreased their price objective on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Canaccord Genuity Group decreased their price objective on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Barclays initiated coverage on Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price objective on the stock. Truist Financial increased their price target on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Citigroup restated an “outperform” rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $687.00.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.