Franklin Resources Inc. Has $298,000 Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Franklin Resources Inc. raised its stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,383 shares of the biopharmaceutical company’s stock after acquiring an additional 103 shares during the period. Franklin Resources Inc.’s holdings in Madrigal Pharmaceuticals were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MDGL. Bank of New York Mellon Corp lifted its position in Madrigal Pharmaceuticals by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 73,815 shares of the biopharmaceutical company’s stock worth $20,680,000 after purchasing an additional 15,932 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Madrigal Pharmaceuticals by 18.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,444 shares of the biopharmaceutical company’s stock worth $685,000 after acquiring an additional 387 shares during the period. Signaturefd LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 36.8% during the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Madrigal Pharmaceuticals by 116.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,068 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Madrigal Pharmaceuticals by 19.9% in the second quarter. Rhumbline Advisers now owns 25,351 shares of the biopharmaceutical company’s stock valued at $7,102,000 after acquiring an additional 4,209 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Price Performance

MDGL stock opened at $308.57 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The company’s 50-day moving average is $307.28 and its 200-day moving average is $270.10. The stock has a market capitalization of $6.73 billion, a PE ratio of -12.30 and a beta of -0.42. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same quarter in the previous year, the company posted ($5.34) EPS. Equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer cut their target price on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $347.33.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares in the company, valued at approximately $3,313,951.28. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fred B. Craves sold 3,600 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $3,468,410. This trade represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,000 shares of company stock worth $3,830,836 in the last ninety days. Corporate insiders own 22.80% of the company’s stock.

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.