Eagle Asset Management Inc. Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Eagle Asset Management Inc. purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 32,396 shares of the biopharmaceutical company’s stock, valued at approximately $6,875,000. Eagle Asset Management Inc. owned approximately 0.15% of Madrigal Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. increased its holdings in shares of Madrigal Pharmaceuticals by 1,633.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 98 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth approximately $41,000. Signaturefd LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 39 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Madrigal Pharmaceuticals by 47.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 68 shares during the last quarter. Finally, Quest Partners LLC raised its stake in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MDGL. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Citigroup dropped their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, B. Riley upped their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $347.33.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the sale, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This trade represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by corporate insiders.

Madrigal Pharmaceuticals Trading Up 5.5 %

Shares of MDGL stock opened at $347.45 on Monday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.58 billion, a P/E ratio of -13.85 and a beta of -0.46. The stock has a 50-day simple moving average of $252.37 and a 200 day simple moving average of $254.63.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the company posted ($5.34) EPS. On average, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share 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.