BNP Paribas Financial Markets Boosts Stock Position in Madrigal Pharmaceuticals, Inc. $MDGL

BNP Paribas Financial Markets raised its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 4.2% in the 4th quarter, Holdings Channel reports. The fund owned 73,707 shares of the biopharmaceutical company’s stock after acquiring an additional 2,950 shares during the quarter. BNP Paribas Financial Markets’ holdings in Madrigal Pharmaceuticals were worth $42,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. WASHINGTON TRUST Co purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $245,000. Norges Bank purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $114,368,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $425,000. Intech Investment Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 9.5% during the 4th quarter. Intech Investment Management LLC now owns 7,301 shares of the biopharmaceutical company’s stock worth $4,252,000 after buying an additional 631 shares in the last quarter. Finally, IFG Advisory LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $491,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Canaccord Genuity Group cut their target price on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Bank of America cut their target price on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Evercore set a $649.00 price objective on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $620.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $687.00.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $488.15 on Thursday. The business has a 50 day moving average price of $515.44 and a 200 day moving average price of $514.38. The company has a market capitalization of $11.26 billion, a P/E ratio of -38.14 and a beta of -1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. Madrigal Pharmaceuticals, Inc. has a 1-year low of $271.95 and a 1-year high of $615.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.36. The firm had revenue of $311.34 million for the quarter, compared to analysts’ expectations of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.Madrigal Pharmaceuticals’s quarterly revenue was up 126.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($3.32) EPS. Sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current fiscal year.

Insider Activity

In other Madrigal Pharmaceuticals news, insider Carole Huntsman sold 419 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $180,982.86. Following the sale, the insider owned 12,692 shares in the company, valued at approximately $5,482,182.48. This represents a 3.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rebecca Taub sold 491 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $212,082.54. Following the sale, the director owned 452,213 shares in the company, valued at approximately $195,328,883.22. This trade represents a 0.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,483 shares of company stock worth $6,001,575 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals 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.