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

Madrigal Pharmaceuticals (NASDAQ:MDGL) announced its quarterly 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 company had revenue of $103.32 million during the quarter, compared to the consensus estimate of $97.81 million.

Madrigal Pharmaceuticals Trading Up 0.1 %

Madrigal Pharmaceuticals stock traded up $0.27 during mid-day trading on Friday, hitting $336.01. The stock had a trading volume of 139,180 shares, compared to its average volume of 425,955. The stock has a 50-day simple moving average of $322.27 and a two-hundred day simple moving average of $284.05. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $7.33 billion, a PE ratio of -13.40 and a beta of -0.38. Madrigal Pharmaceuticals has a 12 month low of $189.00 and a 12 month high of $377.46.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group lifted their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup increased their price target on Madrigal Pharmaceuticals from $378.00 to $469.00 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, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.75.

Insiders Place Their Bets

In other news, CEO William John Sibold sold 1,584 shares of the firm’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 transaction, the chief executive officer now directly owns 54,303 shares in the company, valued at $18,204,537.72. This trade represents a 2.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert E. Waltermire sold 103 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $34,529.72. Following the sale, the vice president now directly owns 4,955 shares of the company’s stock, valued at approximately $1,661,114.20. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,690 shares of company stock valued at $2,692,601. 22.80% of the stock is currently owned by 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.