Paul A. Friedman Sells 26,270 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Director Paul A. Friedman sold 26,270 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $246.19, for a total value of $6,467,411.30. Following the sale, the director now directly owns 185,735 shares in the company, valued at $45,726,099.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Madrigal Pharmaceuticals Trading Up 0.2 %

MDGL opened at $245.27 on Friday. The stock’s fifty day moving average is $241.39 and its two-hundred day moving average is $206.65. The company has a market capitalization of $4.88 billion, a P/E ratio of -12.30 and a beta of -0.47. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $322.67. The company has a quick ratio of 5.38, a current ratio of 5.38 and a debt-to-equity ratio of 0.28.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same quarter last year, the company earned ($4.98) earnings per share. Analysts forecast that Madrigal Pharmaceuticals, Inc. will post -21.48 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of MDGL. JPMorgan Chase & Co. boosted its position in Madrigal Pharmaceuticals by 2.9% during the 1st quarter. JPMorgan Chase & Co. now owns 35,674 shares of the biopharmaceutical company’s stock valued at $3,500,000 after acquiring an additional 1,017 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Madrigal Pharmaceuticals by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 36,127 shares of the biopharmaceutical company’s stock valued at $3,545,000 after acquiring an additional 1,383 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Madrigal Pharmaceuticals by 13.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,350 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 1,000 shares in the last quarter. MetLife Investment Management LLC boosted its position in Madrigal Pharmaceuticals by 58.6% during the 1st quarter. MetLife Investment Management LLC now owns 6,682 shares of the biopharmaceutical company’s stock valued at $656,000 after acquiring an additional 2,468 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Madrigal Pharmaceuticals by 3.8% in the 1st quarter. Rhumbline Advisers now owns 12,393 shares of the biopharmaceutical company’s stock worth $1,216,000 after purchasing an additional 451 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MDGL shares. Piper Sandler reaffirmed an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. UBS Group raised their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, March 15th. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Friday. Citigroup increased their price target on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Oppenheimer increased their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.40.

Madrigal Pharmaceuticals Company Profile

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.