BNP Paribas Financial Markets Has $2.07 Million Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

BNP Paribas Financial Markets increased its position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 97.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,767 shares of the biopharmaceutical company’s stock after buying an additional 4,811 shares during the period. BNP Paribas Financial Markets’ holdings in Madrigal Pharmaceuticals were worth $2,073,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 98 shares during the last quarter. Signaturefd LLC increased its holdings in Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 39 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 68 shares during the last quarter. Quest Partners LLC increased its holdings in Madrigal Pharmaceuticals by 5,225.0% in the second quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 209 shares during the last quarter. Finally, Comerica Bank increased its holdings in Madrigal Pharmaceuticals by 615.4% in the first quarter. Comerica Bank now owns 372 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 320 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. B. Riley increased their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. UBS Group increased their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.33.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,000 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were 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 directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,363 shares of company stock valued at $5,382,326 over the last ninety days. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals Trading Up 2.5 %

Shares of Madrigal Pharmaceuticals stock opened at $320.84 on Friday. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -12.79 and a beta of -0.42. Madrigal Pharmaceuticals, Inc. has a 1 year low of $168.25 and a 1 year high of $368.29. The company’s fifty day simple moving average is $272.33 and its 200-day simple moving average is $262.18. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping the consensus estimate of ($6.94) by $2.02. The firm had revenue of $62.18 million during the quarter, compared to the consensus estimate of $34.60 million. During the same period last year, the business earned ($5.34) earnings per share. As a group, sell-side analysts expect that Madrigal Pharmaceuticals, Inc. will post -24.08 EPS for the current 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.