Intel stock spikes after report of possible US government stake
WEST CONSHOHOCKEN, PA—Carole Huntsman (NYSE:HUN), Chief Commercial Officer of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a $6.79 billion market cap biopharmaceutical company whose stock has gained nearly 12% in the past week, recently sold 347 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $335.24 each, totaling $116,328.
The transaction was executed on January 24, 2025, and was conducted to cover tax withholding obligations related to the vesting of restricted stock units. The sale was automatic and not at Huntsman's discretion, as noted in the filing. According to InvestingPro data, analysts maintain a strong buy consensus on MDGL with a high price target of $530. Following this transaction, Huntsman retains ownership of 10,438 shares in the company. Get access to 12 more exclusive InvestingPro Tips and comprehensive analysis for MDGL through the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Madrigal Pharmaceuticals has reported strong preliminary financial performance for the fourth quarter and full year 2024, with net sales ranging from $100 million to $103 million and $177 million to $180 million, respectively. This surpasses Goldman Sachs and FactSet consensus estimates, attributing the impressive sales results to sustained patient demand for Rezdiffra. Over 11,800 patients were on Rezdiffra by the end of 2024, marking a significant increase.
Analysts from Goldman Sachs, Evercore ISI, Oppenheimer, TD Cowen, and Piper Sandler have all maintained their positive ratings on Madrigal. Goldman Sachs reaffirmed a Buy rating, while Evercore ISI increased the price target to $392, citing strong quarterly sales. Oppenheimer also raised the price target to $400, reflecting confidence in the company's ongoing clinical studies and development programs.
The company is also actively pursuing expansion efforts, including the anticipated approval and launch of Rezdiffra in Europe by mid-2025. Furthermore, Madrigal has completed patient enrollment for the MAESTRO-NASH Outcomes trial, which evaluates resmetirom as a potential treatment for NASH cirrhosis. These are the recent developments in Madrigal's ongoing efforts to improve treatment options for patients.
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