Intech Investment Management LLC Makes New Investment in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Intech Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the third quarter, HoldingsChannel reports. The firm acquired 6,032 shares of the biopharmaceutical company’s stock, valued at approximately $1,280,000.

A number of other large investors have also modified their holdings of MDGL. Fiera Capital Corp bought a new stake in Madrigal Pharmaceuticals in the 2nd quarter valued at $32,335,000. Avoro Capital Advisors LLC boosted its position in shares of Madrigal Pharmaceuticals by 5.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock valued at $575,884,000 after acquiring an additional 111,111 shares in the last quarter. Artal Group S.A. bought a new stake in Madrigal Pharmaceuticals in the first quarter valued at about $29,510,000. Point72 Asset Management L.P. raised its position in Madrigal Pharmaceuticals by 172.6% in the second quarter. Point72 Asset Management L.P. now owns 40,958 shares of the biopharmaceutical company’s stock worth $11,475,000 after purchasing an additional 97,387 shares in the last quarter. Finally, Paulson & CO. Inc. lifted its stake in Madrigal Pharmaceuticals by 4.2% during the second quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company’s stock worth $518,296,000 after purchasing an additional 75,000 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the transaction, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group increased their target price on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday, November 1st. B. Riley lifted their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Oppenheimer cut their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Down 2.4 %

NASDAQ MDGL opened at $336.74 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals, Inc. has a 52 week low of $168.25 and a 52 week high of $368.29. The stock has a market capitalization of $7.34 billion, a P/E ratio of -13.43 and a beta of -0.46. The stock has a fifty day moving average of $254.60 and a 200-day moving average of $255.94.

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

About Madrigal Pharmaceuticals

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.