Madrigal Pharmaceuticals (NASDAQ:MDGL) Releases Earnings Results, Beats Expectations By $2.02 EPS

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) issued its earnings results on Thursday. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($6.94) by $2.02, Briefing.com reports. The company had revenue of $62.18 million during the quarter, compared to analysts' expectations of $34.60 million. During the same period last year, the business posted ($5.34) earnings per share.

Madrigal Pharmaceuticals Trading Up 23.2 %

MDGL traded up $60.24 during trading on Friday, hitting $319.58. The company's stock had a trading volume of 3,056,161 shares, compared to its average volume of 436,666. Madrigal Pharmaceuticals has a twelve month low of $133.99 and a twelve month high of $321.19. The stock has a market cap of $6.94 billion, a PE ratio of -12.74 and a beta of -0.44. The firm's 50 day moving average price is $226.07 and its 200-day moving average price is $242.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67.

Wall Street Analysts Forecast Growth

MDGL has been the subject of several research reports. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a report on Friday. 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. StockNews.com raised shares of Madrigal Pharmaceuticals to a "sell" rating in a research note on Saturday, October 12th. Evercore ISI dropped their target price 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. Finally, Citigroup reduced their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $344.33.

Insider Transactions at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 6,363 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 55,887 shares of the company's stock, valued at $13,626,927.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.