Madrigal Pharmaceuticals (NASDAQ:MDGL) Announces Quarterly Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) posted its earnings results on Wednesday. The biopharmaceutical company reported ($2.71) earnings per share for the quarter, topping the consensus estimate of ($4.32) by $1.61, Zacks reports. The firm had revenue of $103.32 million during the quarter, compared to analyst estimates of $97.81 million.

Madrigal Pharmaceuticals Stock Up 0.1 %

Madrigal Pharmaceuticals stock traded up $0.27 during mid-day trading on Friday, reaching $336.01. The company’s stock had a trading volume of 139,180 shares, compared to its average volume of 425,955. The business’s 50 day simple moving average is $322.27 and its 200 day simple moving average is $284.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals has a 12 month low of $189.00 and a 12 month high of $377.46. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of -13.40 and a beta of -0.38.

Analysts Set New Price Targets

A number of research firms recently commented on MDGL. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “strong-buy” rating and upped their price objective for the company from $236.00 to $422.00 in a research report on Thursday. HC Wainwright increased their price target on Madrigal Pharmaceuticals from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group lifted their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup increased their target price on Madrigal Pharmaceuticals from $378.00 to $469.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.75.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 5,058 shares of the company’s stock, valued at $1,382,907.78. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carole Huntsman sold 347 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $335.24, for a total value of $116,328.28. Following the sale, the insider now owns 10,438 shares in the company, valued at approximately $3,499,235.12. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,690 shares of company stock valued at $2,692,601 in the last three months. 22.80% of the stock is currently owned by corporate 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.