Traders Purchase Large Volume of Call Options on Madrigal Pharmaceuticals (MDGL)
Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) was the recipient of some unusual options trading activity on Tuesday. Investors bought 5,753 call options on the company. This represents an increase of approximately 1,019% compared to the average daily volume of 514 call options.
A number of analysts have recently issued reports on MDGL shares. Oppenheimer cut their target price on shares of Madrigal Pharmaceuticals from $300.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday. Raymond James cut shares of Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research note on Monday. BidaskClub cut shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday. Evercore ISI upgraded shares of Madrigal Pharmaceuticals from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $222.00 to $250.00 in a research note on Friday, November 16th. Finally, Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $297.63.
In other news, CEO Paul A. Friedman purchased 4,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $124.00 per share, for a total transaction of $496,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fred B. Craves purchased 2,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was purchased at an average price of $124.69 per share, with a total value of $249,380.00. The disclosure for this purchase can be found here. Company insiders own 56.70% of the company’s stock.
NASDAQ MDGL opened at $114.00 on Wednesday. Madrigal Pharmaceuticals has a 52-week low of $41.00 and a 52-week high of $325.98.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). As a group, research analysts forecast that Madrigal Pharmaceuticals will post -2.19 earnings per share for the current fiscal year.
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: How mutual funds make money
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.