Intel stock spikes after report of possible US government stake
Kenneth Bate, a director at Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), recently sold a significant portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. On February 27, Bate sold shares worth approximately $7.1 million, with sales prices ranging from $351.01 to $360.07 per share. The transaction occurred as the stock trades near its 52-week high of $377.46, having delivered an impressive 36% return over the past six months. InvestingPro analysis indicates the stock is currently trading below its Fair Value, suggesting potential upside remains despite recent gains.
In addition to the sales, Bate also exercised stock options, acquiring shares at prices between $9.45 and $111.06, totaling approximately $1.3 million. Following these transactions, Bate’s direct ownership in the company stands at 1,912 shares. The company, currently valued at $7.5 billion, maintains a strong financial position with a healthy current ratio of 6.1.
These transactions come as Madrigal Pharmaceuticals continues to navigate the competitive pharmaceutical industry, with its focus on developing innovative treatments. Investors will be watching closely to see how these insider activities might reflect on the company’s strategic direction and market performance. InvestingPro subscribers can access 10+ additional exclusive insights and a comprehensive Pro Research Report, offering deeper analysis of the company’s financial health, which currently rates as FAIR according to proprietary metrics.
In other recent news, Madrigal Pharmaceuticals announced its fourth-quarter and full-year 2024 financial results, reporting revenues of $103 million for the quarter and $180 million for the year, reaching the upper end of their preannounced range. Citi analyst David Lebowitz responded by raising the price target for Madrigal to $469, citing Rezdiffra’s strong sales performance, which exceeded market expectations for the third consecutive quarter. UBS maintained its Buy rating with a target of $441, expressing optimism about the company’s commercial trajectory and the growing demand for its products. JMP Securities increased their price target to $443, following promising two-year data from the MAESTRO-NAFLD-1 trial, which showed significant reductions in liver stiffness in patients treated with Rezdiffra. H.C. Wainwright also adjusted their price target for Madrigal to $405, reflecting a positive outlook on the company’s growth prospects. TD Cowen reiterated a Buy rating with a $390 target, highlighting the significant findings from the two-year open-label extension study of MAESTRO-NAFLD-1. The European Medicines Agency is expected to make a decision regarding Rezdiffra by mid-2025, with a potential product launch in Germany in the second half of that year. These developments underscore Madrigal’s progress in addressing the unmet medical needs in the treatment of liver diseases.
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