Key Points
- Insider sale: Madrigal Pharmaceuticals insider David Soergel sold 844 shares at an average price of $515.90, for a total of about $435,420. The filing says the sale was to cover tax withholding tied to vesting equity awards.
- Recent earnings beat: The company reported quarterly EPS of ($3.25), topping estimates, and revenue of $311.34 million, also above forecasts. Revenue rose 126.8% year over year, though the company remains unprofitable.
- Analyst and investor support: Despite mixed valuation signals, several analysts remain bullish, with a consensus rating of Moderate Buy and an average price target of $687.00. Institutional ownership is very high, with hedge funds and other institutions holding 98.5% of the stock.
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) insider David Soergel sold 844 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $515.90, for a total transaction of $435,419.60. Following the completion of the sale, the insider directly owned 11,075 shares of the company's stock, valued at approximately $5,713,592.50. The trade was a 7.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Madrigal Pharmaceuticals Stock Down 0.3%
Shares of NASDAQ MDGL opened at $522.23 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. The company has a market cap of $12.04 billion, a P/E ratio of -40.80 and a beta of -1.04. Madrigal Pharmaceuticals, Inc. has a 1 year low of $265.00 and a 1 year high of $615.00. The firm has a 50-day simple moving average of $499.88 and a two-hundred day simple moving average of $511.56.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.61) by $0.36. The business had revenue of $311.34 million during the quarter, compared to the consensus estimate of $301.05 million. Madrigal Pharmaceuticals had a negative net margin of 27.32% and a negative return on equity of 50.15%. The firm's quarterly revenue was up 126.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($3.32) earnings per share. Research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -6.49 earnings per share for the current year.
Institutional Investors Weigh In On Madrigal Pharmaceuticals
A number of large investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP boosted its holdings in Madrigal Pharmaceuticals by 8.4% in the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company's stock valued at $982,313,000 after purchasing an additional 165,683 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Madrigal Pharmaceuticals by 27.4% in the first quarter. Janus Henderson Group PLC now owns 2,018,647 shares of the biopharmaceutical company's stock valued at $1,051,727,000 after purchasing an additional 433,804 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Madrigal Pharmaceuticals by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 461,402 shares of the biopharmaceutical company's stock valued at $268,693,000 after purchasing an additional 56,947 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Madrigal Pharmaceuticals by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 451,743 shares of the biopharmaceutical company's stock valued at $263,114,000 after purchasing an additional 5,510 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Madrigal Pharmaceuticals by 17.6% in the third quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company's stock valued at $188,877,000 after purchasing an additional 61,513 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Zacks Research raised shares of Madrigal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Truist Financial lifted their price target on shares of Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Citigroup reaffirmed an "outperform" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 20th. Bank of America decreased their price target on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Finally, Barclays assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They set an "overweight" rating and a $964.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $687.00.
View Our Latest Analysis on MDGL
Madrigal Pharmaceuticals Company Profile
(
Get Free Report)
Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company's pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.
The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.
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