Oppenheimer Asset Management Inc. Invests $414,000 in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,476 shares of the biopharmaceutical company’s stock, valued at approximately $414,000.

Other institutional investors also recently bought and sold shares of the company. Rhenman & Partners Asset Management AB purchased a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $5,206,000. Norges Bank acquired a new position in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $33,686,000. Paulson & CO. Inc. raised its holdings in shares of Madrigal Pharmaceuticals by 121.1% in the fourth quarter. Paulson & CO. Inc. now owns 1,105,741 shares of the biopharmaceutical company’s stock worth $255,846,000 after buying an additional 605,741 shares during the last quarter. Rheos Capital Works Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the first quarter worth $29,432,000. Finally, AMI Asset Management Corp grew its holdings in shares of Madrigal Pharmaceuticals by 101.5% during the first quarter. AMI Asset Management Corp now owns 9,618 shares of the biopharmaceutical company’s stock valued at $2,568,000 after buying an additional 4,845 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL opened at $233.49 on Friday. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals, Inc. has a 52 week low of $119.76 and a 52 week high of $299.98. The stock’s 50-day moving average price is $255.47 and its 200-day moving average price is $250.10. The stock has a market capitalization of $5.07 billion, a PE ratio of -10.11 and a beta of -0.43.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, beating analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. During the same quarter last year, the firm earned ($4.69) earnings per share. The firm’s quarterly revenue was up 146280.0% compared to the same quarter last year. As a group, equities analysts expect that Madrigal Pharmaceuticals, Inc. will post -27.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JMP Securities raised their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Friday. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 23rd. Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Wolfe Research assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, June 11th. They issued an “outperform” rating and a $382.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $343.83.

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 that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. 23.92% of the stock is currently owned by company insiders.

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.