Investment analysts at Evercore ISI assumed coverage on shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in a research report issued on Friday, The Fly reports. The brokerage set an “outperform” rating on the biopharmaceutical company’s stock.

Shares of Madrigal Pharmaceuticals (NASDAQ MDGL) opened at 22.33 on Friday. The company’s market capitalization is $279.01 million. Madrigal Pharmaceuticals has a 12 month low of $10.19 and a 12 month high of $22.63. The company has a 50-day moving average of $16.93 and a 200 day moving average of $15.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, August 10th. The biopharmaceutical company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.09). Analysts forecast that Madrigal Pharmaceuticals will post ($2.57) EPS for the current year.

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In other news, Director Richard S. Levy bought 3,550 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $15.88 per share, for a total transaction of $56,374.00. Following the purchase, the director now owns 900 shares of the company’s stock, valued at $14,292. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard S. Levy bought 2,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $16.12 per share, for a total transaction of $32,240.00. Following the purchase, the director now directly owns 7,200 shares in the company, valued at approximately $116,064. The disclosure for this purchase can be found here. Insiders bought a total of 9,100 shares of company stock worth $145,840 in the last 90 days. 66.40% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of MDGL. State Street Corp acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $539,000. Northern Trust Corp boosted its stake in shares of Madrigal Pharmaceuticals by 151.2% in the 2nd quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock valued at $814,000 after purchasing an additional 30,134 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at $321,000. Shikiar Asset Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $246,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at $225,000. Institutional investors own 16.39% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).

The Fly

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