Madrigal Pharmaceuticals (NASDAQ:MDGL) Issues Earnings Results

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

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded up $44.11 during trading hours on Friday, reaching $303.45. 2,085,604 shares of the stock traded hands, compared to its average volume of 432,275. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67. The stock has a 50 day simple moving average of $226.07 and a two-hundred day simple moving average of $242.02. Madrigal Pharmaceuticals has a 1 year low of $133.99 and a 1 year high of $321.19. The company has a market cap of $6.59 billion, a price-to-earnings ratio of -11.52 and a beta of -0.44.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Evercore ISI decreased their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Finally, JMP Securities lifted their target price on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals has a consensus 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.