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

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) issued its earnings results on Wednesday. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, beating analysts' consensus estimates of ($4.32) by $1.61, Zacks reports. The business had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $5.53 during trading hours on Friday, reaching $341.27. The stock had a trading volume of 330,378 shares, compared to its average volume of 431,005. The business's fifty day moving average is $322.93 and its two-hundred day moving average is $285.02. 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 company has a market cap of $7.44 billion, a price-to-earnings ratio of -13.61 and a beta of -0.38. Madrigal Pharmaceuticals has a twelve month low of $189.00 and a twelve month high of $377.46.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now directly owns 5,058 shares in the company, valued at $1,382,907.78. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James M. Daly sold 15,470 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $347.45, for a total value of $5,375,051.50. Following the transaction, the director now owns 1,912 shares of the company's stock, valued at $664,324.40. This represents a 89.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,160 shares of company stock worth $8,067,652. 22.80% of the stock is owned by corporate insiders.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. B. Riley raised Madrigal Pharmaceuticals from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from $236.00 to $422.00 in a research note on Thursday. Citigroup upped their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a "buy" rating in a research report on Thursday. HC Wainwright upped 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, JMP Securities reissued a "market outperform" rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $375.75.

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.