Madrigal Pharmaceuticals (NASDAQ:MDGL) Releases Quarterly Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) issued its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($2.71) EPS for the quarter, topping the consensus estimate of ($4.32) by $1.61, Zacks reports. The business had revenue of $103.32 million for the quarter, compared to analysts’ expectations of $97.81 million.

Madrigal Pharmaceuticals Stock Down 2.0 %

NASDAQ MDGL opened at $348.70 on Thursday. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $377.46. The stock has a market capitalization of $7.61 billion, a PE ratio of -13.91 and a beta of -0.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The business’s 50-day moving average is $321.42 and its 200 day moving average is $283.69.

Analysts Set New Price Targets

MDGL has been the topic of several research reports. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $427.00 price target on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. B. Riley upped their price objective on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $352.08.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, insider Carole Huntsman sold 347 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the completion of the transaction, the insider now owns 10,438 shares in the company, valued at $3,499,235.12. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now directly owns 54,303 shares in the company, valued at approximately $18,204,537.72. The trade was a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,690 shares of company stock valued at $2,692,601 in the last 90 days. Insiders own 22.80% of the company’s stock.

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.