BNP Paribas Financial Markets Cuts Position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

BNP Paribas Financial Markets lessened its position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 29.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,921 shares of the biopharmaceutical company’s stock after selling 2,846 shares during the quarter. BNP Paribas Financial Markets’ holdings in Madrigal Pharmaceuticals were worth $2,136,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $1,297,000. Franklin Resources Inc. grew its holdings in Madrigal Pharmaceuticals by 340.1% during the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company’s stock valued at $1,878,000 after buying an additional 4,704 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Madrigal Pharmaceuticals during the 4th quarter valued at approximately $16,615,000. Barclays PLC grew its holdings in Madrigal Pharmaceuticals by 159.9% during the 3rd quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock valued at $8,549,000 after buying an additional 24,783 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Madrigal Pharmaceuticals by 166.2% during the 4th quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company’s stock valued at $1,128,000 after buying an additional 2,282 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals Price Performance

MDGL opened at $290.96 on Friday. The business has a fifty day moving average of $318.87 and a 200 day moving average of $319.33. Madrigal Pharmaceuticals, Inc. has a 52-week low of $200.63 and a 52-week high of $377.46. 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 cap of $6.46 billion, a P/E ratio of -11.60 and a beta of -0.91.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.62) by $0.30. The business had revenue of $137.25 million for the quarter, compared to analysts’ expectations of $112.79 million. During the same quarter in the previous year, the firm earned ($7.38) EPS. As a group, sell-side analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MDGL shares. HC Wainwright raised their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the company a “buy” rating in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $443.00 target price on shares of Madrigal Pharmaceuticals in a report on Thursday, April 24th. B. Riley reiterated a “buy” rating and issued a $460.00 target price (up previously from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Citigroup lifted their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $416.33.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, 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 sale, the director now directly owns 1,912 shares of the company’s stock, valued at $664,324.40. The trade was a 89.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 1,227 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, February 28th. The shares were sold at an average price of $341.07, for a total value of $418,492.89. Following the sale, the vice president now directly owns 3,728 shares of the company’s stock, valued at approximately $1,271,508.96. This trade represents a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,810 shares of company stock worth $10,610,594 in the last quarter. 22.80% of the stock is owned by company insiders.

Madrigal Pharmaceuticals 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.