Madrigal Pharmaceuticals (NASDAQ:MDGL) Announces Quarterly Earnings Results, Beats Estimates By $2.02 EPS

Madrigal Pharmaceuticals (NASDAQ:MDGL) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.94) by $2.02, Briefing.com reports. The company had revenue of $62.18 million for the quarter, compared to the consensus estimate of $34.60 million. During the same period in the prior year, the firm posted ($5.34) EPS.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL traded up $60.24 during mid-day trading on Friday, hitting $319.58. 2,929,642 shares of the company’s stock traded hands, compared to its average volume of 436,072. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.72 and a quick ratio of 8.67. Madrigal Pharmaceuticals has a 1 year low of $133.99 and a 1 year high of $321.19. The company’s 50-day moving average is $226.07 and its two-hundred day moving average is $242.02. The company has a market capitalization of $6.94 billion, a P/E ratio of -12.43 and a beta of -0.44.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 22.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI dropped 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. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, JMP Securities upped their price target on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. Two investment 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 data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $344.33.

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.