Mirae Asset Global Investments Co. Ltd. Buys 31,624 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

Mirae Asset Global Investments Co. Ltd. bought a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,624 shares of the biopharmaceutical company’s stock, valued at approximately $15,937,000. Mirae Asset Global Investments Co. Ltd. owned about 0.14% of Madrigal Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in Madrigal Pharmaceuticals by 27.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company’s stock valued at $1,051,727,000 after purchasing an additional 433,804 shares during the last quarter. Jupiter Topco LLC bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $1,039,650,000. Paulson & CO. Inc. bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $719,524,000. BlackRock Inc. bought a new stake in Madrigal Pharmaceuticals during the second quarter worth about $644,753,000. Finally, Wellington Management Group LLP increased its holdings in shares of Madrigal Pharmaceuticals by 18.8% during the second quarter. Wellington Management Group LLP now owns 825,714 shares of the biopharmaceutical company’s stock worth $443,367,000 after buying an additional 130,756 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Key Madrigal Pharmaceuticals News

Here are the key news stories impacting Madrigal Pharmaceuticals this week:

• Positive Sentiment: Madrigal posted Q3 EPS of $1.83, versus analysts’ expectation of a $1.09 loss, and revenue of $431.27 million, above the $404.17 million consensus. The company also said Rezdiffra sales had topped $1 billion, with sales up 50%. Madrigal Swings To Q3 Profit As Rezdiffra Sales Jump 50%
• Positive Sentiment: Citigroup raised its price target to $760 from $725 and maintained a Buy rating, pointing to substantial potential upside from the recent share price. Citigroup rating information
• Neutral Sentiment: Madrigal expects a late-2027 readout from the MAESTRO-NASH OUTCOMES trial and is planning a study of more than 2,000 patients with compensated cirrhosis and portal hypertension. These programs could broaden the company’s opportunity, but their results are not near-term catalysts. Madrigal trial plans
• Negative Sentiment: Despite the earnings beat, MDGL hit a fresh 52-week low as investors focused on near-term profitability concerns. This suggests the market may be weighing the sustainability of the commercial ramp and future investment needs against Rezdiffra’s growth. MDGL stock and profitability concerns

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Madrigal Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $605.00 target price for the company in a research note on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on Madrigal Pharmaceuticals in a report on Thursday, September 24th. They issued a “buy” rating and a $704.00 target price on the stock. UBS Group restated a “buy” rating and set a $735.00 price target on shares of Madrigal Pharmaceuticals in a research report on Wednesday, October 14th. Citigroup raised their price target on Madrigal Pharmaceuticals from $725.00 to $760.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company initiated coverage on Madrigal Pharmaceuticals in a report on Monday, July 27th. They set an “overweight” rating and a $685.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $701.53.

Insider Activity at Madrigal Pharmaceuticals

In other news, CEO William Sibold sold 5,221 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $542.39, for a total transaction of $2,831,818.19. Following the sale, the chief executive officer directly owned 197,746 shares of the company’s stock, valued at $107,255,452.94. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Shannon Kelley sold 664 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $514.97, for a total transaction of $341,940.08. Following the completion of the sale, the general counsel directly owned 11,474 shares of the company’s stock, valued at approximately $5,908,765.78. This represents a 5.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 12,247 shares of company stock worth $6,581,182 over the last three months. 17.60% of the stock is owned by insiders.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ:MDGL opened at $396.32 on Wednesday. Madrigal Pharmaceuticals, Inc. has a 12 month low of $387.33 and a 12 month high of $615.00. The company’s 50-day moving average price is $494.64 and its two-hundred day moving average price is $498.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.20 and a quick ratio of 2.94.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, November 3rd. The biopharmaceutical company reported $1.83 earnings per share for the quarter, beating the consensus estimate of ($1.09) by $2.92. Madrigal Pharmaceuticals had a negative net margin of 25.32% and a negative return on equity of 56.65%. The firm had revenue of $431.27 million during the quarter, compared to analysts’ expectations of $404.17 million. During the same quarter last year, the company posted ($5.08) EPS. On average, sell-side analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.03 EPS for the current year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for nonalcoholic steatohepatitis, now known as metabolic dysfunction-associated steatohepatitis (MASH), and other chronic liver diseases. The company is headquartered in West Conshohocken, Pennsylvania.

Madrigal’s lead product is Rezdiffra (resmetirom), an orally administered thyroid hormone receptor beta agonist designed to target key drivers of liver disease, including hepatic fat accumulation and fibrosis.