By otakuyassine3@gmail.com 
Oppenheimer Asset Management Inc. lowered its stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) by 24.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,132 shares of the biopharmaceutical company’s stock after selling 375 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Madrigal Pharmaceuticals were worth $349,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Cavalier Investments LLC increased its stake in shares of Madrigal Pharmaceuticals by 4.0% during the 4th quarter. Cavalier Investments LLC now owns 3,785 shares of the biopharmaceutical company’s stock worth $1,168,000 after purchasing an additional 144 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $849,000. Handelsbanken Fonder AB increased its stake in shares of Madrigal Pharmaceuticals by 0.9% during the 4th quarter. Handelsbanken Fonder AB now owns 32,800 shares of the biopharmaceutical company’s stock worth $10,121,000 after purchasing an additional 300 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $4,554,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $221,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Analyst Ratings Changes
MDGL has been the subject of a number of recent research reports. HC Wainwright lifted their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Citigroup lifted their price objective on shares of Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $236.00 to $422.00 in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $375.75.
Read Our Latest Stock Analysis on MDGL
Insider Transactions at Madrigal Pharmaceuticals
In related news, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the transaction, the chief executive officer now owns 54,303 shares in the company, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Daly sold 15,470 shares of Madrigal Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the completion of the transaction, the director now owns 1,912 shares in the company, valued at approximately $664,324.40. The trade was a 89.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,787 shares of company stock valued at $7,351,029. Insiders own 22.80% of the company’s stock.
Madrigal Pharmaceuticals Stock Performance
NASDAQ MDGL opened at $328.77 on Friday. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The company has a market capitalization of $7.26 billion, a P/E ratio of -13.11 and a beta of -0.38. The company has a fifty day moving average of $324.17 and a 200-day moving average of $287.02.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported ($2.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.32) by $1.61. The company had revenue of $103.32 million for the quarter, compared to the consensus estimate of $97.81 million. As a group, equities research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.
Madrigal Pharmaceuticals Company Profile
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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