Stock market today: Dow in fresh record close as Powell signals rate cut incoming
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a $7.67 billion market cap biotech company, recently reported that its Senior Vice President and Chief Financial Officer, Mardi Dier, executed stock sales totaling $637,247. The transactions, which took place on March 3, involved the sale of 1,961 shares of common stock. According to InvestingPro data, the stock has seen a -9.71% decline over the past week, though it maintains a strong 30.62% gain over the past six months.
The first transaction saw Dier selling 1,187 shares at a price of $325.89 each, amounting to $386,831. This sale was conducted automatically to cover tax withholding obligations related to the vesting of restricted stock units. The second transaction involved the sale of 774 shares at a weighted average price of $323.54, totaling $250,416. This sale was made under a pre-established Rule 10b5-1 trading plan.
Following these transactions, Dier holds 6,914 shares of Madrigal Pharmaceuticals. The sales were part of routine financial planning and compliance with tax obligations. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 6.1 and holds more cash than debt on its balance sheet. For deeper insights into MDGL’s financial health and detailed insider trading patterns, subscribers can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Madrigal Pharmaceuticals reported its fourth-quarter and full-year 2024 earnings, with revenues reaching $103 million and $180 million, respectively, at the upper end of their preannounced range. Citi analyst David Lebowitz raised the company’s stock target to $469, citing Rezdiffra’s strong sales performance, which exceeded market expectations for the third consecutive quarter. JMP Securities also increased Madrigal’s price target to $443 based on promising two-year data from the MAESTRO-NAFLD-1 trial, indicating a significant reduction in liver stiffness in cirrhotic patients. UBS maintained a Buy rating with a target of $441, expressing optimism about Madrigal’s commercial trajectory and long-term potential in treating metabolic-associated steatohepatitis (MASH). H.C. Wainwright adjusted its target to $405, reflecting a positive outlook on the company’s growth prospects. TD Cowen reiterated a Buy rating with a $390 target after the company announced significant findings from a two-year open-label extension study. Madrigal is also anticipating a decision from the European Medicines Agency regarding Rezdiffra by mid-2025, with plans for a product launch in Germany later that year. These developments underscore Madrigal Pharmaceuticals’ progress in addressing liver diseases and expanding its market presence.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.