Key Points
- Director Richard Levy sold 5,682 shares of Madrigal Pharmaceuticals on May 22 for about $2.93 million at $515.44 per share, leaving him with 22,015 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Madrigal reported better-than-expected quarterly results, with EPS of ($3.25) versus estimates of ($3.61) and revenue of $311.34 million versus expectations of $301.05 million. Revenue jumped 126.8% from a year earlier.
- Wall Street sentiment remains generally positive, with analysts giving the stock an average “Moderate Buy” rating and a consensus price target of $687. However, some firms have recently trimmed targets or kept neutral/sell views.
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) Director Richard Levy sold 5,682 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $515.44, for a total value of $2,928,730.08. Following the transaction, the director directly owned 22,015 shares in the company, valued at $11,347,411.60. This trade represents a 20.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Madrigal Pharmaceuticals Stock Performance
NASDAQ MDGL opened at $517.26 on Friday. The stock's fifty day moving average is $506.40 and its two-hundred day moving average is $513.49. The firm has a market capitalization of $11.93 billion, a P/E ratio of -40.41 and a beta of -1.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.16 and a current ratio of 3.50. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $265.00 and a fifty-two week high of $615.00.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, topping analysts' consensus estimates of ($3.61) by $0.36. The company had revenue of $311.34 million for the quarter, compared to analyst estimates of $301.05 million. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm's revenue for the quarter was up 126.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($3.32) earnings per share. On average, research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -6.49 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Bank of America decreased their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Zacks Research raised Madrigal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research note on Tuesday, April 21st. Canaccord Genuity Group decreased their price target on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Finally, Evercore set a $649.00 price target on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $687.00.
Check Out Our Latest Analysis on MDGL
Institutional Investors Weigh In On Madrigal Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of MDGL. Flagship Harbor Advisors LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $29,000. Aventura Private Wealth LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $36,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at $39,000. Finally, Quarry LP purchased a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 98.50% of the company's stock.
About Madrigal Pharmaceuticals
(
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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