Baker BROS. Advisors LP Has $982.31 Million Holdings in Madrigal Pharmaceuticals, Inc. $MDGL

Baker BROS. Advisors LP boosted its holdings in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 8.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,141,701 shares of the biopharmaceutical company’s stock after purchasing an additional 165,683 shares during the quarter. Madrigal Pharmaceuticals makes up 7.1% of Baker BROS. Advisors LP’s portfolio, making the stock its 3rd largest position. Baker BROS. Advisors LP owned approximately 0.09% of Madrigal Pharmaceuticals worth $982,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. William Blair Investment Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 17.6% in the third quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock valued at $188,877,000 after acquiring an additional 61,513 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Madrigal Pharmaceuticals by 5,381.2% in the third quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after acquiring an additional 397,076 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock worth $113,842,000 after purchasing an additional 184,554 shares in the last quarter. Invesco Ltd. grew its position in shares of Madrigal Pharmaceuticals by 49.5% during the third quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock worth $137,398,000 after purchasing an additional 99,209 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Madrigal Pharmaceuticals by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 277,221 shares of the biopharmaceutical company’s stock valued at $83,898,000 after purchasing an additional 31,260 shares during the period. 98.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MDGL. Bank of America lowered their price target on Madrigal Pharmaceuticals from $570.00 to $529.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. UBS Group set a $900.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, December 19th. Oppenheimer boosted their target price on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. B. Riley Financial upped their target price on shares of Madrigal Pharmaceuticals from $560.00 to $670.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $685.31.

Insider Buying and Selling

In related news, General Counsel Shannon T. Kelley sold 360 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $431.94, for a total transaction of $155,498.40. Following the sale, the general counsel owned 12,138 shares of the company’s stock, valued at $5,242,887.72. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mardi Dier sold 1,982 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $430.87, for a total transaction of $853,984.34. Following the transaction, the chief financial officer owned 12,490 shares of the company’s stock, valued at $5,381,566.30. This trade represents a 13.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,612 shares of company stock valued at $28,326,065 in the last three months. Corporate insiders own 21.50% of the company’s stock.

Madrigal Pharmaceuticals Stock Performance

NASDAQ MDGL opened at $444.83 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.01 and a quick ratio of 3.77. Madrigal Pharmaceuticals, Inc. has a 1-year low of $265.00 and a 1-year high of $615.00. The business has a 50 day simple moving average of $477.62 and a two-hundred day simple moving average of $488.39. The stock has a market capitalization of $10.20 billion, a PE ratio of -34.56 and a beta of -0.97.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). The firm had revenue of $321.08 million for the quarter, compared to analysts’ expectations of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The firm’s revenue was up 210.8% on a year-over-year basis. During the same period last year, the company earned ($2.71) earnings per share. On average, research analysts predict that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current fiscal year.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-? agonist in Phase 3 development for the treatment of NASH.