Key Points
- Insider sale: Director Carole Huntsman sold 1,958 shares at an average price of $553.11 for about $1.08 million, leaving her with 10,032 shares (a 16.33% reduction) as disclosed in an SEC filing.
- Earnings miss: Madrigal reported Q3 EPS of ($5.08) vs. a consensus ($2.01) estimate, with negative return on equity and a -54.68% net margin, and analysts forecast roughly -23.47 EPS for the year.
- Analyst and market view: The stock trades near its 52-week high and has a market cap of $12.44 billion; analysts have a consensus "Moderate Buy" target of $553.50 and institutional ownership is about 98.5%.
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) insider Carole Huntsman sold 1,958 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $553.11, for a total value of $1,082,989.38. Following the sale, the insider directly owned 10,032 shares in the company, valued at $5,548,799.52. This trade represents a 16.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Madrigal Pharmaceuticals Price Performance
Madrigal Pharmaceuticals stock traded up $5.84 during midday trading on Friday, hitting $547.96. 567,191 shares of the company's stock were exchanged, compared to its average volume of 373,026. The stock has a 50-day moving average price of $456.96 and a two-hundred day moving average price of $372.65. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $577.90. The company has a market cap of $12.44 billion, a P/E ratio of -42.64 and a beta of -1.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($5.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($3.07). Madrigal Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 54.68%. On average, equities research analysts forecast that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.
Hedge Funds Weigh In On Madrigal Pharmaceuticals
A number of hedge funds have recently made changes to their positions in the business. Baker BROS. Advisors LP lifted its holdings in Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company's stock worth $982,313,000 after purchasing an additional 165,683 shares in the last quarter. Paulson & CO. Inc. grew its position in shares of Madrigal Pharmaceuticals by 2.8% during the first quarter. Paulson & CO. Inc. now owns 2,099,523 shares of the biopharmaceutical company's stock valued at $695,425,000 after purchasing an additional 57,523 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Madrigal Pharmaceuticals by 17.6% during the 3rd quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company's stock valued at $188,877,000 after buying an additional 61,513 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Madrigal Pharmaceuticals by 5,381.2% during the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company's stock valued at $185,507,000 after acquiring an additional 397,076 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Madrigal Pharmaceuticals by 96.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company's stock valued at $113,842,000 after purchasing an additional 184,554 shares in the last quarter. Institutional investors own 98.50% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on MDGL shares. UBS Group reaffirmed a "buy" rating and issued a $523.00 target price (up from $458.00) on shares of Madrigal Pharmaceuticals in a research report on Tuesday, August 12th. Bank of America upgraded shares of Madrigal Pharmaceuticals from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $266.00 to $445.00 in a research note on Monday, November 3rd. Oppenheimer upped their price objective on Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the company an "outperform" rating in a research report on Thursday. Citizens Jmp upped their price target on Madrigal Pharmaceuticals from $485.00 to $527.00 and gave the company a "market outperform" rating in a report on Wednesday, November 5th. Finally, B. Riley increased their price objective on Madrigal Pharmaceuticals from $460.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $553.50.
Get Our Latest Stock Analysis on Madrigal Pharmaceuticals
About Madrigal Pharmaceuticals
(
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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.
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