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WEST CONSHOHOCKEN, PA—William John Sibold, the President and CEO of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), has sold shares of the company worth $531,020. The transaction involved the sale of 1,584 shares at a price of $335.24 each, according to a recent SEC filing. The $6.79 billion market cap company has shown strong momentum, with an 11.75% return over the past week, according to InvestingPro data.
This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units. The sale was automatic and not at the discretion of Sibold. Following this transaction, Sibold holds 54,303 shares of Madrigal Pharmaceuticals directly. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 5.98, while analysts have set price targets ranging from $154 to $530.
Investors often closely monitor such transactions for insights into executive sentiment and potential impacts on stock performance. Madrigal Pharmaceuticals specializes in pharmaceutical preparations and is headquartered in West Conshohocken, Pennsylvania. The company currently maintains a FAIR financial health score according to InvestingPro, which offers 12 additional investment tips for this stock in its comprehensive Pro Research Report.
In other recent news, Madrigal Pharmaceuticals reported strong preliminary sales for Rezdiffra, a treatment for metabolic dysfunction-associated steatohepatitis (MASH). The company's fourth-quarter sales ranged between $100 million to $103 million, surpassing Goldman Sachs and FactSet consensus estimates. Full-year 2024 sales were also robust, falling between $177 million to $180 million. Madrigal's strong financial performance was attributed to sustained patient demand, effective strategies, and favorable coverage.
Goldman Sachs maintained a Buy rating on Madrigal shares, while Evercore ISI analyst Liisa Bayko raised the price target to $392 from $360. Other firms such as Oppenheimer and TD Cowen also showed confidence in Madrigal's prospects, with Oppenheimer raising the price target to $400 and TD Cowen maintaining a price target of $390.
Madrigal is making strides towards expansion, with plans for the approval and launch of Rezdiffra in Europe by mid-2025. The company also completed enrollment for the MAESTRO-NASH OUTCOMES trial, which could further solidify Rezdiffra's position in treating MASH. These are recent developments in Madrigal's ongoing efforts to improve treatment options for patients.
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