Madrigal Pharmaceuticals (NASDAQ:MDGL) Releases Quarterly Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32), Briefing.com reports. During the same quarter last year, the company posted ($4.23) EPS.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded down $12.70 during trading hours on Wednesday, hitting $205.26. The stock had a trading volume of 272,878 shares, compared to its average volume of 522,009. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The firm has a market capitalization of $4.37 billion, a PE ratio of -10.31 and a beta of -0.33. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $311.56. The stock’s 50 day moving average is $240.62 and its 200 day moving average is $217.08.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several analyst reports. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Evercore ISI raised their price target on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Citigroup upped their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, UBS Group boosted their target price on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $356.73.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the sale, the director now directly owns 1,198 shares in the company, valued at $123,118.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the sale, the director now owns 1,198 shares of the company’s stock, valued at $123,118.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul A. Friedman sold 18,710 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $242.96, for a total transaction of $4,545,781.60. Following the sale, the director now owns 185,735 shares of the company’s stock, valued at $45,126,175.60. The disclosure for this sale can be found here. Insiders sold a total of 146,496 shares of company stock valued at $31,362,420 in the last ninety days. Insiders own 23.92% 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.