Brevan Howard Capital Management LP Buys Shares of 1,001 Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Brevan Howard Capital Management LP purchased a new position in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,001 shares of the biopharmaceutical company’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in Madrigal Pharmaceuticals during the fourth quarter worth about $1,297,000. Franklin Resources Inc. boosted its holdings in Madrigal Pharmaceuticals by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 6,087 shares of the biopharmaceutical company’s stock worth $1,878,000 after buying an additional 4,704 shares during the period. Raymond James Financial Inc. bought a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at $16,615,000. Barclays PLC lifted its position in shares of Madrigal Pharmaceuticals by 159.9% during the third quarter. Barclays PLC now owns 40,279 shares of the biopharmaceutical company’s stock worth $8,549,000 after acquiring an additional 24,783 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Madrigal Pharmaceuticals by 166.2% during the fourth quarter. Prudential Financial Inc. now owns 3,655 shares of the biopharmaceutical company’s stock worth $1,128,000 after acquiring an additional 2,282 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $443.00 price target on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group upped their price target on Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. 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 report on Thursday, February 27th. Canaccord Genuity Group boosted their price objective on shares of Madrigal Pharmaceuticals from $394.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, HC Wainwright increased their target price on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $416.33.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock opened at $294.64 on Friday. Madrigal Pharmaceuticals, Inc. has a fifty-two week low of $200.63 and a fifty-two week high of $377.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market cap of $6.54 billion, a P/E ratio of -11.75 and a beta of -0.91. The firm’s fifty day moving average price is $322.18 and its 200-day moving average price is $317.80.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($3.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.62) by $0.30. The firm 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 business earned ($7.38) EPS. On average, equities research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current fiscal year.

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 that occurred on Thursday, February 27th. The shares were sold at an average price of $347.45, for a total transaction of $5,375,051.50. Following the transaction, the director now directly owns 1,912 shares of the company’s stock, valued at approximately $664,324.40. This trade represents a 89.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert E. Waltermire sold 14,113 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $341.32, for a total transaction of $4,817,049.16. Following the completion of the sale, the vice president now directly owns 3,728 shares of the company’s stock, valued at $1,272,440.96. This trade represents a 79.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,810 shares of company stock valued at $10,610,594. Corporate insiders own 22.80% of the company’s stock.

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.