Madrigal Pharmaceuticals (MDGL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Madrigal Pharmaceuticals (NASDAQ:MDGL) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.03, Bloomberg Earnings reports.
Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) opened at $127.35 on Wednesday. The company has a market capitalization of $2,000.85, a PE ratio of -50.14 and a beta of 1.32. Madrigal Pharmaceuticals has a 1-year low of $13.09 and a 1-year high of $154.75.
MDGL has been the subject of several research analyst reports. HC Wainwright initiated coverage on Madrigal Pharmaceuticals in a research note on Wednesday, November 29th. They issued a “buy” rating and a $54.00 price objective for the company. Roth Capital set a $82.00 price objective on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, November 30th. JMP Securities raised their price objective on Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Evercore ISI raised their price objective on Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, December 7th. Finally, Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $154.20.
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About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
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