Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) CEO Paul A. Friedman acquired 4,000 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, November 19th. The shares were purchased at an average cost of $124.00 per share, with a total value of $496,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ MDGL opened at $120.50 on Tuesday. Madrigal Pharmaceuticals Inc has a 52 week low of $40.28 and a 52 week high of $325.98. The company has a market cap of $2.00 billion, a P/E ratio of -47.44 and a beta of 1.56.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). Equities analysts predict that Madrigal Pharmaceuticals Inc will post -2.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of MDGL. Baker BROS. Advisors LP boosted its position in Madrigal Pharmaceuticals by 89.9% during the second quarter. Baker BROS. Advisors LP now owns 1,169,278 shares of the biopharmaceutical company’s stock valued at $327,035,000 after purchasing an additional 553,594 shares during the last quarter. Capital Research Global Investors boosted its position in Madrigal Pharmaceuticals by 21.5% during the third quarter. Capital Research Global Investors now owns 1,664,452 shares of the biopharmaceutical company’s stock valued at $356,409,000 after purchasing an additional 294,200 shares during the last quarter. BlackRock Inc. boosted its position in Madrigal Pharmaceuticals by 53.1% during the second quarter. BlackRock Inc. now owns 488,499 shares of the biopharmaceutical company’s stock valued at $136,627,000 after purchasing an additional 169,406 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $37,742,000. Finally, Boxer Capital LLC acquired a new position in Madrigal Pharmaceuticals during the second quarter valued at approximately $26,571,000. 54.29% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on the company. BidaskClub cut Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday. Raymond James cut Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research report on Monday. Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $300.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday. Evercore ISI raised Madrigal Pharmaceuticals from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $222.00 to $250.00 in a research report on Friday. Finally, Citigroup assumed coverage on Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They set a “buy” rating and a $340.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Madrigal Pharmaceuticals currently has an average rating of “Hold” and an average target price of $297.63.

TRADEMARK VIOLATION NOTICE: This article was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.dailypolitical.com/2018/11/20/madrigal-pharmaceuticals-inc-mdgl-ceo-paul-a-friedman-buys-4000-shares.html.

About Madrigal Pharmaceuticals

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.

See Also: Rule of 72

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.