371,771 Shares in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, HoldingsChannel reports. The firm acquired 371,771 shares of the biopharmaceutical company’s stock, valued at approximately $114,717,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $39,010,000. Eagle Asset Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $6,875,000. Intech Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $1,280,000. Vestal Point Capital LP acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $6,367,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $393,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MDGL shares. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and lifted their price target for the company from $236.00 to $422.00 in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. Citigroup raised 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. Finally, HC Wainwright raised 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. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $378.44.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the transaction, the vice president now owns 5,058 shares of the company’s stock, valued at approximately $1,382,907.78. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James M. Daly sold 15,470 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now directly 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. Over the last quarter, insiders have sold 35,900 shares of company stock valued at $12,168,079. 22.80% of the stock is owned by corporate insiders.

Madrigal Pharmaceuticals Stock Down 1.7 %

Shares of Madrigal Pharmaceuticals stock opened at $342.44 on Tuesday. Madrigal Pharmaceuticals, Inc. has a 52-week low of $189.00 and a 52-week high of $377.46. The company has a 50 day moving average of $326.98 and a 200 day moving average of $291.44. 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 company has a market capitalization of $7.56 billion, a P/E ratio of -13.65 and a beta of -0.41.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results 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 firm had revenue of $103.32 million during the quarter, compared to analysts’ expectations of $97.81 million. As a group, research analysts forecast 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.