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

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

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $10.28 during mid-day trading on Wednesday, hitting $207.68. The company had a trading volume of 176,828 shares, compared to its average volume of 520,818. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $311.56. The firm has a market cap of $4.42 billion, a P/E ratio of -10.93 and a beta of -0.33. The business’s 50-day simple moving average is $240.62 and its 200-day simple moving average is $217.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDGL. UBS Group increased their price objective on Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, March 15th. HC Wainwright boosted their target price on shares of Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Piper Sandler restated an “overweight” rating and set a $336.00 price target on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. TD Cowen upped their price objective on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Finally, Bank of America began coverage on Madrigal Pharmaceuticals in a report on Monday, April 22nd. They set an “underperform” rating and a $150.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Madrigal Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $356.73.

Insider Activity at Madrigal Pharmaceuticals

In other news, 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 sale, the director now owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals stock in a transaction on 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 completion of the transaction, the director now directly owns 1,198 shares of the company’s stock, 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 the company’s stock in a transaction dated 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 in the company, valued at approximately $2,651,529.04. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock worth $31,362,420 over the last three months. Company insiders own 23.92% of the company’s stock.

About Madrigal Pharmaceuticals

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.