Madrigal Pharmaceuticals (NASDAQ:MDGL) Issues Quarterly Earnings Results, Misses Estimates 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 analysts’ consensus estimates of ($6.06) by ($1.32), Briefing.com reports. During the same period last year, the company posted ($4.23) EPS.

Madrigal Pharmaceuticals Stock Down 1.2 %

NASDAQ:MDGL traded down $2.43 during midday trading on Friday, reaching $204.49. 58,003 shares of the stock traded hands, compared to its average volume of 519,871. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $302.68. The business has a 50-day moving average of $239.11 and a two-hundred day moving average of $216.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. The stock has a market capitalization of $4.35 billion, a PE ratio of -10.38 and a beta of -0.33.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MDGL shares. Citigroup dropped their target price on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group upped their target price on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Piper Sandler restated an “overweight” rating and issued a $336.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. B. Riley lowered their price target on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Evercore ISI upped their price target 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. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $345.09.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the transaction, the director now owns 185,735 shares of the company’s stock, valued at $45,726,099.65. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Richard S. Levy sold 11,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the sale, the director now 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 can be accessed through this hyperlink. Also, Director Paul A. Friedman sold 26,270 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the completion of the sale, the director now owns 185,735 shares in the company, valued at approximately $45,726,099.65. The disclosure for this sale can be found here. Insiders sold 146,496 shares of company stock valued at $31,362,420 over the last 90 days. 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.