Madrigal Pharmaceuticals (NASDAQ:MDGL) Posts Earnings Results, Misses Expectations By $1.32 EPS

Madrigal Pharmaceuticals (NASDAQ:MDGL) issued its earnings results on Tuesday. The biopharmaceutical company reported ($7.38) EPS for the quarter, missing the consensus estimate of ($6.06) by ($1.32), Briefing.com reports. During the same period in the prior year, the company posted ($4.23) earnings per share.

Madrigal Pharmaceuticals Price Performance

NASDAQ:MDGL traded down $12.70 during trading hours on Wednesday, reaching $205.26. 272,878 shares of the company were exchanged, compared to its average volume of 522,009. The business has a 50 day moving average of $240.62 and a 200 day moving average of $217.08. Madrigal Pharmaceuticals has a 1-year low of $119.76 and a 1-year high of $311.56. 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 company has a market capitalization of $4.37 billion, a P/E ratio of -10.31 and a beta of -0.33.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JMP Securities lifted their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. B. Riley upgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their target price for the stock from $155.00 to $270.00 in a research note on Friday, March 15th. Citigroup upped their price target on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Evercore ISI raised their price objective on shares of Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, UBS Group upped their target price on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $356.73.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 27,506 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $243.36, for a total transaction of $6,693,860.16. Following the completion of the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at $111,701,996.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 27,506 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $243.36, for a total transaction of $6,693,860.16. Following the completion of the sale, the chief marketing officer now directly owns 458,999 shares in the company, valued at $111,701,996.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul A. Friedman sold 18,710 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $242.96, for a total value of $4,545,781.60. Following the completion of the sale, the director now directly owns 185,735 shares in the company, valued at approximately $45,126,175.60. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 in the last three months. Corporate insiders own 23.92% of the company’s stock.

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.