Shikiar Asset Management Inc. grew its holdings in shares of Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,341 shares of the biopharmaceutical company’s stock after purchasing an additional 1,000 shares during the quarter. Shikiar Asset Management Inc. owned approximately 0.10% of Madrigal Pharmaceuticals worth $1,922,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pearl River Capital LLC purchased a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $29,000. First Mercantile Trust Co. increased its stake in Madrigal Pharmaceuticals by 52.2% during the fourth quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 214 shares during the period. Quantamental Technologies LLC purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $90,000. Great West Life Assurance Co. Can increased its stake in Madrigal Pharmaceuticals by 59.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 366 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in Madrigal Pharmaceuticals during the fourth quarter worth about $116,000. 56.29% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 18th. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. HC Wainwright restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, May 9th. BidaskClub lowered shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Finally, Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $222.09.
Shares of Madrigal Pharmaceuticals stock traded down $0.44 during trading hours on Friday, hitting $98.36. 118,570 shares of the company were exchanged, compared to its average volume of 211,486. Madrigal Pharmaceuticals Inc has a 1 year low of $91.56 and a 1 year high of $325.98. The stock has a market capitalization of $1.52 billion, a PE ratio of -44.31 and a beta of 1.07.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.02. During the same period in the previous year, the firm posted ($0.45) earnings per share. Sell-side analysts expect that Madrigal Pharmaceuticals Inc will post -4.25 EPS for the current fiscal year.
Madrigal Pharmaceuticals Company Profile
Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.
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