Madrigal Pharmaceuticals (NASDAQ:MDGL) Announces Quarterly Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) issued its earnings results on Thursday. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02, Briefing.com reports. The business had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same quarter in the prior year, the company earned ($5.34) EPS.

Madrigal Pharmaceuticals Trading Up 23.2 %

Shares of MDGL opened at $319.58 on Friday. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a one year low of $133.99 and a one year high of $321.19. The company’s fifty day moving average price is $227.40 and its 200 day moving average price is $242.64.

Wall Street Analyst Weigh In

MDGL has been the topic of a number of research analyst reports. Evercore ISI dropped their price objective on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Oppenheimer cut their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $390.00 target price on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $344.33.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was 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 approximately $13,626,927.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.