Creative Planning Purchases 535 Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Creative Planning increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 20.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,212 shares of the biopharmaceutical company’s stock after purchasing an additional 535 shares during the quarter. Creative Planning’s holdings in Madrigal Pharmaceuticals were worth $900,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Algert Global LLC acquired a new position in Madrigal Pharmaceuticals during the second quarter worth $356,000. The Manufacturers Life Insurance Company raised its stake in Madrigal Pharmaceuticals by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 35,678 shares of the biopharmaceutical company’s stock worth $9,996,000 after acquiring an additional 4,937 shares in the last quarter. Paulson & CO. Inc. raised its stake in Madrigal Pharmaceuticals by 4.2% during the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after acquiring an additional 75,000 shares in the last quarter. Fred Alger Management LLC raised its stake in Madrigal Pharmaceuticals by 58.7% during the second quarter. Fred Alger Management LLC now owns 102,455 shares of the biopharmaceutical company’s stock worth $28,704,000 after acquiring an additional 37,879 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Madrigal Pharmaceuticals during the second quarter worth $476,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on MDGL shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Friday. Citigroup lowered their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JMP Securities raised their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Evercore ISI lowered their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $343.83.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $214.15 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 12-month low of $119.76 and a 12-month high of $299.98. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -8.40 and a beta of -0.44. The business’s 50-day simple moving average is $236.79 and its 200 day simple moving average is $245.62.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($7.55) by $0.45. The company had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. Madrigal Pharmaceuticals’s quarterly revenue was up 146280.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.69) earnings per share. As a group, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -27.67 earnings per share for the current year.

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.