Madrigal Pharmaceuticals (NASDAQ:MDGL) Releases Quarterly Earnings Results, Misses Estimates By $1.32 EPS

Madrigal Pharmaceuticals (NASDAQ:MDGL) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.06) by ($1.32), Briefing.com reports. During the same quarter last year, the business posted ($4.23) EPS.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock traded down $11.63 during midday trading on Wednesday, reaching $206.33. The company’s stock had a trading volume of 228,633 shares, compared to its average volume of 521,398. The business has a 50-day moving average price of $240.62 and a 200-day moving average price of $217.08. Madrigal Pharmaceuticals has a 52 week low of $119.76 and a 52 week high of $311.56. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The stock has a market cap of $4.39 billion, a PE ratio of -10.31 and a beta of -0.33.

Insider Buying and Selling

In other news, Director Richard S. Levy sold 11,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the transaction, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Rebecca Taub sold 2,676 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $245.99, for a total transaction of $658,269.24. Following the sale, the chief marketing officer now owns 458,999 shares of the company’s stock, valued at approximately $112,909,164.01. The disclosure for this sale can be found here. Insiders sold a total of 146,496 shares of company stock worth $31,362,420 in the last three months. 23.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HC Wainwright boosted their price target on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a report on Friday, March 15th. Oppenheimer raised their price target on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Bank of America assumed coverage on Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They set an “underperform” rating and a $150.00 target price for the company. UBS Group lifted their price target on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, JMP Securities raised their price objective on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $356.73.

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.