Madrigal Pharmaceuticals (MDGL) Scheduled to Post Quarterly Earnings on Thursday

Madrigal Pharmaceuticals (NASDAQ:MDGL) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of ($7.11) per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The business had revenue of $14.64 million during the quarter, compared to the consensus estimate of $4.25 million. The business’s quarterly revenue was up 146280.0% compared to the same quarter last year. During the same period last year, the company earned ($4.69) earnings per share. On average, analysts expect Madrigal Pharmaceuticals to post $-27 EPS for the current fiscal year and $-18 EPS for the next fiscal year.

Madrigal Pharmaceuticals Stock Up 0.4 %

Shares of Madrigal Pharmaceuticals stock opened at $217.79 on Wednesday. Madrigal Pharmaceuticals has a 1-year low of $120.65 and a 1-year high of $299.98. The company has a market capitalization of $4.64 billion, a P/E ratio of -9.43 and a beta of -0.44. The business’s fifty day moving average price is $227.49 and its two-hundred day moving average price is $242.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Insider Transactions at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 23.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MDGL has been the subject of several research analyst reports. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Evercore ISI decreased their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Finally, Oppenheimer lowered their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.75.

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.