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

Madrigal Pharmaceuticals (NASDAQ:MDGL) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing the consensus estimate of ($6.06) by ($1.32), Briefing.com reports. During the same period in the prior year, the firm posted ($4.23) earnings per share.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded down $11.63 during midday trading on Wednesday, hitting $206.33. 228,633 shares of the stock were exchanged, compared to its average volume of 521,398. 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 cap of $4.39 billion, a price-to-earnings ratio of -10.31 and a beta of -0.33. Madrigal Pharmaceuticals has a fifty-two week low of $119.76 and a fifty-two week high of $311.56. The stock’s 50-day moving average price is $240.62 and its 200-day moving average price is $217.08.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDGL. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. Canaccord Genuity Group boosted their target price on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Citigroup lifted their price objective on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Oppenheimer raised their price target on shares of Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Finally, Evercore ISI increased their price objective on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $356.73.

Insider Activity

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction dated 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 approximately $2,651,529.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James M. Daly sold 32,489 shares of the firm’s 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 sale, the director now owns 1,198 shares in the company, valued at $123,118.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals 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. Insiders sold a total of 146,496 shares of company stock worth $31,362,420 over the last 90 days. 23.92% of the stock is currently owned by corporate insiders.

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.