Madrigal Pharmaceuticals (MDGL) Scheduled to Post Quarterly Earnings on Tuesday

Madrigal Pharmaceuticals (NASDAQ:MDGL) is scheduled to post its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect Madrigal Pharmaceuticals to post earnings of ($6.06) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period last year, the company earned ($4.98) earnings per share. On average, analysts expect Madrigal Pharmaceuticals to post $-22 EPS for the current fiscal year and $-14 EPS for the next fiscal year.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock traded down $0.30 during trading hours on Tuesday, reaching $200.77. The stock had a trading volume of 144,606 shares, compared to its average volume of 522,256. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The firm has a 50-day simple moving average of $242.64 and a 200-day simple moving average of $213.60. The firm has a market capitalization of $4.00 billion, a PE ratio of -10.08 and a beta of -0.47. Madrigal Pharmaceuticals has a twelve month low of $119.76 and a twelve month high of $322.67.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the transaction, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the transaction, the director now owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard S. Levy sold 11,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $257.48, for a total transaction of $2,832,280.00. Following the completion of the sale, the director now directly owns 10,298 shares of the company’s stock, valued at $2,651,529.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America started coverage on Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an “underperform” rating and a $150.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $336.00 price target on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. TD Cowen lifted their price objective on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Citigroup increased their target price on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Oppenheimer upped their price target on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.