Madrigal Pharmaceuticals (NASDAQ:MDGL) Issues Quarterly Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.39) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.03, Briefing.com reports. During the same period last year, the firm posted ($0.56) earnings per share.

MDGL stock traded up $6.76 during midday trading on Friday, reaching $102.80. 12,282 shares of the company’s stock traded hands, compared to its average volume of 109,802. The company has a 50-day simple moving average of $90.61 and a two-hundred day simple moving average of $95.78. Madrigal Pharmaceuticals has a 1-year low of $82.31 and a 1-year high of $219.61. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -46.41 and a beta of 1.11.

MDGL has been the subject of a number of recent research reports. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. BidaskClub cut Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday. ValuEngine raised Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 29th. B. Riley set a $134.00 price target on Madrigal Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $171.00.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

Recommended Story: Using other technical indicators with support levels

Earnings History for Madrigal Pharmaceuticals (NASDAQ:MDGL)

Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.