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

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) announced 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 last year, the company posted ($4.23) earnings per share.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL traded down $9.92 on Wednesday, hitting $208.04. The stock had a trading volume of 690,489 shares, compared to its average volume of 526,955. The firm has a 50-day moving average of $239.69 and a 200-day moving average of $217.02. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -10.43 and a beta of -0.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 5.38 and a current ratio of 5.38. Madrigal Pharmaceuticals has a 52-week low of $119.76 and a 52-week high of $311.56.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MDGL. B. Riley raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "neutral" rating and lifted their price target for the company from $155.00 to $270.00 in a report on Friday, March 15th. Citigroup reduced their price objective on Madrigal Pharmaceuticals from $389.00 to $382.00 and set a "buy" rating on the stock in a research report on Wednesday. Evercore ISI boosted their price target on Madrigal Pharmaceuticals from $325.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, March 20th. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the company a "buy" rating in a report on Friday, March 15th. Finally, Piper Sandler restated an "overweight" rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $351.45.

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CMO Rebecca Taub sold 2,676 shares of the company's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $245.99, for a total value of $658,269.24. Following the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at approximately $112,909,164.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 11,000 shares of Madrigal Pharmaceuticals 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 owns 10,298 shares of the company's stock, valued at $2,651,529.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $245.99, for a total value of $658,269.24. Following the transaction, the chief marketing officer now owns 458,999 shares in the company, valued at $112,909,164.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,496 shares of company stock valued at $31,362,420. 23.92% of the stock is currently owned by company insiders.

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.