Madrigal Pharmaceuticals (MDGL) Set to Announce Earnings on Thursday

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) is scheduled to be announcing its 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. Persons that wish to register for the company's earnings conference call can do so using this link.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results 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 company had revenue of $14.64 million for the quarter, compared to analyst estimates of $4.25 million. During the same quarter in the previous year, the company posted ($4.69) earnings per share. Madrigal Pharmaceuticals's revenue for the quarter was up 146280.0% on a year-over-year basis. 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 Trading Up 0.3 %

MDGL stock traded up $0.51 during trading on Thursday, hitting $202.99. The company had a trading volume of 257,802 shares, compared to its average volume of 421,659. The firm has a 50-day moving average price of $229.08 and a 200-day moving average price of $242.74. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $299.98. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -8.79 and a beta of -0.44.

Analyst Upgrades and Downgrades

MDGL has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday. Citigroup cut their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. 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 research note on Thursday, August 8th. JMP Securities upped their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a "market outperform" rating in a report on Tuesday, July 16th. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Two investment 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $341.75.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now owns 55,887 shares of the company's stock, valued at approximately $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 23.92% of the stock is owned by company insiders.

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.