Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Sells $75,734.57 in Stock

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) General Counsel Shannon T. Kelley sold 277 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $75,734.57. Following the sale, the general counsel now directly owns 7,705 shares in the company, valued at $2,106,624.05. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Madrigal Pharmaceuticals Trading Up 7.6 %

Shares of MDGL stock opened at $293.64 on Monday. The business has a 50-day moving average of $314.19 and a 200 day moving average of $272.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. Madrigal Pharmaceuticals, Inc. has a 1-year low of $168.25 and a 1-year high of $368.29. The stock has a market capitalization of $6.40 billion, a PE ratio of -11.71 and a beta of -0.36.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.77 earnings per share for the current year.

Institutional Trading of Madrigal Pharmaceuticals

Several large investors have recently added to or reduced their stakes in MDGL. Miracle Mile Advisors LLC bought a new position in Madrigal Pharmaceuticals in the 4th quarter worth $216,000. Franklin Resources Inc. increased its position in shares of Madrigal Pharmaceuticals by 8.0% during the third quarter. Franklin Resources Inc. now owns 1,383 shares of the biopharmaceutical company’s stock valued at $298,000 after buying an additional 103 shares during the period. Sanctuary Advisors LLC raised its position in shares of Madrigal Pharmaceuticals by 12.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,185 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 134 shares in the last quarter. Geode Capital Management LLC raised its holdings in Madrigal Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Barclays PLC lifted its position in Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after buying an additional 24,783 shares during the period. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MDGL has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $351.67.

About Madrigal Pharmaceuticals

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.