Madrigal Pharmaceuticals (NASDAQ:MDGL) Posts Earnings Results, Beats Estimates By $2.02 EPS

Madrigal Pharmaceuticals (NASDAQ:MDGL) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02, Briefing.com reports. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the previous year, the business posted ($5.34) earnings per share.

Madrigal Pharmaceuticals Trading Up 17.0 %

MDGL traded up $44.11 during trading on Friday, hitting $303.45. The company’s stock had a trading volume of 2,085,604 shares, compared to its average volume of 432,275. The firm has a market capitalization of $6.59 billion, a P/E ratio of -11.52 and a beta of -0.44. Madrigal Pharmaceuticals has a twelve month low of $133.99 and a twelve month high of $321.19. The stock’s fifty day moving average price is $226.07 and its 200-day moving average price is $242.02. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

MDGL has been the topic of a number of research analyst reports. Evercore ISI cut their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Citigroup cut their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, JMP Securities boosted their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $341.75.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.