Key Points
- Insider sale: Madrigal Pharmaceuticals insider David Soergel sold 1,042 shares on June 1 at an average price of $495.74, totaling about $516,561. He now holds 10,033 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- Stock and financial snapshot: MDGL shares were down 3.2% and opened at $481.23, with the stock trading below both its 50-day and 200-day moving averages. The company has a market cap of about $11.1 billion and reported stronger-than-expected quarterly revenue of $311.34 million, up 126.8% year over year.
- Analyst sentiment: Wall Street remains cautiously bullish overall, with a consensus rating of Moderate Buy and an average target price of $687.00. Recent analyst actions were mixed, including lowered price targets from Bank of America and Canaccord, while Wells Fargo upgraded the stock to overweight.
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) insider David Soergel sold 1,042 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $495.74, for a total value of $516,561.08. Following the transaction, the insider owned 10,033 shares of the company's stock, valued at $4,973,759.42. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Soergel also recently made the following trade(s):
- On Monday, May 18th, David Soergel sold 844 shares of Madrigal Pharmaceuticals stock. The shares were sold at an average price of $515.90, for a total value of $435,419.60.
Madrigal Pharmaceuticals Stock Down 3.2%
Shares of NASDAQ:MDGL opened at $481.23 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 1 year low of $268.69 and a 1 year high of $615.00. The business has a 50 day simple moving average of $514.40 and a two-hundred day simple moving average of $515.10. The firm has a market capitalization of $11.10 billion, a PE ratio of -37.60 and a beta of -1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The business had revenue of $311.34 million during the quarter, compared to analyst estimates of $301.05 million. During the same quarter in the previous year, the business earned ($3.32) earnings per share. The company's revenue for the quarter was up 126.8% compared to the same quarter last year. On average, equities analysts predict that Madrigal Pharmaceuticals, Inc. will post -7.23 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on MDGL shares. Bank of America dropped their target price on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research report on Thursday, May 7th. Canaccord Genuity Group dropped their target price on Madrigal Pharmaceuticals from $587.00 to $578.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Zacks Research upgraded Madrigal Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company upgraded Madrigal Pharmaceuticals to an "overweight" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $687.00.
Read Our Latest Analysis on MDGL
Institutional Trading of Madrigal Pharmaceuticals
Large investors have recently modified their holdings of the company. Eastern Bank raised its stake in Madrigal Pharmaceuticals by 32.3% in the fourth quarter. Eastern Bank now owns 86 shares of the biopharmaceutical company's stock worth $50,000 after buying an additional 21 shares in the last quarter. Centaurus Financial Inc. raised its stake in Madrigal Pharmaceuticals by 5.0% in the third quarter. Centaurus Financial Inc. now owns 709 shares of the biopharmaceutical company's stock worth $325,000 after buying an additional 34 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Madrigal Pharmaceuticals by 34.6% in the fourth quarter. Farther Finance Advisors LLC now owns 140 shares of the biopharmaceutical company's stock worth $82,000 after buying an additional 36 shares in the last quarter. Accent Capital Management LLC raised its stake in Madrigal Pharmaceuticals by 64.9% in the fourth quarter. Accent Capital Management LLC now owns 94 shares of the biopharmaceutical company's stock worth $55,000 after buying an additional 37 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in Madrigal Pharmaceuticals by 6.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 690 shares of the biopharmaceutical company's stock worth $402,000 after buying an additional 44 shares in the last quarter. 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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