Intel stock spikes after report of possible US government stake
Rebecca Taub, President of Research and Development and Chief Medical (TASE:PMCN) Officer at Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), recently sold 1,689 shares of the company's common stock. The shares were sold at an average price of $273.41 each, amounting to a total transaction value of approximately $461,789. The transaction comes as the stock, currently trading at $293.64, has experienced a 13.36% decline over the past week, according to InvestingPro data. Despite recent volatility, analysts maintain a bullish stance with a consensus "Buy" rating and price targets ranging from $154 to $530.
Following this transaction, Taub holds 457,310 shares directly. Additionally, she has an indirect interest in 655,540 shares through SQN LLC, where she and her spouse are managing members. The sale was made to cover tax withholding obligations related to the vesting of restricted stock units and was executed automatically, not at Taub's discretion. Based on InvestingPro's comprehensive analysis, which includes 12+ additional key insights and Fair Value calculations available to subscribers, the stock currently appears to be trading above its Fair Value.
In other recent news, Madrigal Pharmaceuticals has reported stronger-than-expected fourth-quarter sales ranging between $100 million to $103 million and full-year 2024 sales between $177 million to $180 million. These figures surpass the Goldman Sachs and FactSet consensus estimates. The impressive sales results are attributed to sustained patient demand and comprehensive physician prescribing for Rezdiffra, with over 11,800 patients on the treatment by the end of 2024.
The company is actively pursuing expansion efforts, including the anticipated approval and launch of Rezdiffra in Europe by mid-2025 and the advancement of the Phase 3 MAESTRO-NASH Outcomes trial for Rezdiffra in F4/cirrhotic NASH. Analyst firms Goldman Sachs, Evercore ISI, Oppenheimer, TD Cowen, and Piper Sandler have all maintained their positive ratings on Madrigal, with price targets ranging from $390 to $530.
Evercore ISI has raised its price target for Madrigal to $392, citing strong Rezdiffra sales and a 4% price increase at the year's start. Oppenheimer increased the price target for Madrigal to $400, reflecting their confidence in the company's ongoing clinical studies and development programs. TD Cowen reaffirmed their price target of $390, while Piper Sandler maintained an Overweight rating on the company. These are the recent developments in Madrigal's ongoing efforts to improve treatment options for NASH patients.
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