Madrigal Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis. The company also develops MGL-3745, a backup compound to resmetirom. It has research, development, and commercialization agreement with Hoffmann-La Roche. Madrigal Pharmaceuticals, Inc. is headquartered in West Conshohocken, Pennsylvania.
Madrigal Pharmaceuticals Stock Up 10.7 %
MDGL traded up $7.67 during trading on Friday, reaching $79.51. 329,463 shares of the stock traded hands, compared to its average volume of 173,510. The stock has a market capitalization of $1.36 billion, a PE ratio of -5.28 and a beta of 1.05. The stock's 50-day moving average is $70.70 and its 200 day moving average is $77.17. Madrigal Pharmaceuticals has a 12 month low of $52.33 and a 12 month high of $105.93.
Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Rating) last issued its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($3.36) EPS for the quarter, beating analysts' consensus estimates of ($3.75) by $0.39. During the same quarter in the prior year, the firm posted ($3.32) EPS. As a group, equities research analysts anticipate that Madrigal Pharmaceuticals will post -14.55 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $133.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, May 12th. B. Riley downgraded shares of Madrigal Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $131.00 to $75.00 in a research report on Friday, July 8th. Finally, Oppenheimer lowered their price objective on shares of Madrigal Pharmaceuticals from $180.00 to $170.00 in a research report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Madrigal Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.29.