Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Shares Purchased by Creative Planning

Creative Planning boosted its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,299 shares of the biopharmaceutical company’s stock after acquiring an additional 87 shares during the quarter. Creative Planning’s holdings in Madrigal Pharmaceuticals were worth $700,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Madrigal Pharmaceuticals by 106.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company’s stock worth $214,491,000 after purchasing an additional 414,484 shares in the last quarter. Fiera Capital Corp acquired a new stake in Madrigal Pharmaceuticals during the second quarter worth approximately $32,335,000. Avoro Capital Advisors LLC raised its holdings in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after purchasing an additional 111,111 shares in the last quarter. Artal Group S.A. acquired a new stake in Madrigal Pharmaceuticals during the first quarter worth approximately $29,510,000. Finally, Point72 Asset Management L.P. raised its holdings in Madrigal Pharmaceuticals by 172.6% during the second quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after purchasing an additional 97,387 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Oppenheimer cut their price objective 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. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI cut their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.33.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ:MDGL opened at $319.58 on Monday. The firm’s fifty day moving average price is $227.40 and its 200 day moving average price is $242.80. Madrigal Pharmaceuticals, Inc. has a 1-year low of $133.99 and a 1-year high of $321.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -12.74 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share 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 last year, the business earned ($5.34) earnings per share. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.27 EPS for the current year.

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.