Madrigal Pharmaceuticals (NASDAQ:MDGL) Posts Quarterly Earnings Results, Beats Estimates By $1.61 EPS

Madrigal Pharmaceuticals (NASDAQ:MDGL) released its earnings results on Wednesday. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating the consensus estimate of ($4.32) by $1.61, Zacks reports.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ:MDGL traded up $47.64 during trading on Wednesday, reaching $357.13. The stock had a trading volume of 840,309 shares, compared to its average volume of 422,265. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market cap of $7.79 billion, a PE ratio of -14.38 and a beta of -0.38. The business has a fifty day moving average price of $320.16 and a 200-day moving average price of $283.18. Madrigal Pharmaceuticals has a 1-year low of $189.00 and a 1-year high of $377.46.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. UBS Group upped their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. HC Wainwright lifted their price target on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Finally, B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Two investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Insider Activity

In related news, General Counsel Shannon T. Kelley sold 277 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $273.41, for a total value of $75,734.57. Following the sale, the general counsel now directly owns 7,705 shares in the company, valued at $2,106,624.05. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 1,584 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total transaction of $531,020.16. Following the completion of the transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at approximately $18,204,537.72. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,690 shares of company stock valued at $2,692,601. Company insiders own 22.80% of the company’s stock.

About Madrigal Pharmaceuticals

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.