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

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

Madrigal Pharmaceuticals Price Performance

MDGL stock traded down $10.28 during mid-day trading on Wednesday, hitting $207.68. 176,828 shares of the stock were exchanged, compared to its average volume of 520,818. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of -10.93 and a beta of -0.33. The business has a fifty day moving average price of $240.62 and a 200 day moving average price of $217.08. Madrigal Pharmaceuticals has a 12 month low of $119.76 and a 12 month high of $311.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38.

Insider Transactions at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 11,000 shares of the 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 sale, the director now directly owns 10,298 shares in the company, valued at $2,651,529.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Richard S. Levy sold 11,000 shares of the firm’s 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 transaction, the director now owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Rebecca Taub sold 27,506 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $243.36, for a total transaction of $6,693,860.16. Following the completion of the transaction, the chief marketing officer now directly owns 458,999 shares of the company’s stock, valued at $111,701,996.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,496 shares of company stock worth $31,362,420. Company insiders own 23.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MDGL shares. Canaccord Genuity Group increased their price target on shares of Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Citigroup boosted their price target on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Oppenheimer raised their price objective on Madrigal Pharmaceuticals from $320.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. HC Wainwright boosted their target price on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $155.00 to $270.00 in a report on Friday, March 15th. Two investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $356.73.

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.