Madrigal Pharmaceuticals (NASDAQ:MDGL) Posts Quarterly Earnings Results

Madrigal Pharmaceuticals (NASDAQ:MDGL) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($2.71) EPS for the quarter, beating analysts’ consensus estimates of ($4.32) by $1.61, Zacks reports.

Madrigal Pharmaceuticals Trading Up 17.1 %

MDGL traded up $52.80 during trading on Wednesday, hitting $362.29. 750,216 shares of the stock were exchanged, compared to its average volume of 418,836. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $377.46. The firm has a 50 day simple moving average of $320.16 and a 200 day simple moving average of $283.18. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of -14.47 and a beta of -0.38. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $273.41, for a total value of $461,789.49. Following the completion of the sale, the chief marketing officer now owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred B. Craves sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $315.31, for a total value of $1,135,116.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $3,468,410. This represents a 24.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,690 shares of company stock valued at $2,692,601. 22.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. B. Riley lifted their price target on Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. UBS Group upped their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, HC Wainwright lifted their price objective on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $351.67.

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.