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

Madrigal Pharmaceuticals (NASDAQ:MDGL) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($4.92) earnings per share for the quarter, topping 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 analysts’ expectations of $34.60 million. During the same quarter in the previous year, the company earned ($5.34) earnings per share.

Madrigal Pharmaceuticals Trading Up 23.2 %

Madrigal Pharmaceuticals stock opened at $319.58 on Friday. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. Madrigal Pharmaceuticals has a 12-month low of $133.99 and a 12-month high of $321.19. The firm’s fifty day moving average price is $227.40 and its 200 day moving average price is $242.64.

Analyst Ratings Changes

MDGL has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. JMP Securities raised their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Finally, Citigroup decreased their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two 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.com, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $344.33.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 22.80% of the stock is currently owned by company 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.