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

Madrigal Pharmaceuticals (NASDAQ:MDGL) issued 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 quarter last year, the firm posted ($4.23) EPS.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded down $3.81 during trading hours on Thursday, hitting $204.23. 115,284 shares of the stock were exchanged, compared to its average volume of 521,925. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The company’s 50 day moving average is $239.69 and its 200 day moving average is $217.02. The firm has a market capitalization of $4.35 billion, a P/E ratio of -10.43 and a beta of -0.33. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $302.68.

Insider Buying and Selling

In related news, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $102.77, for a total transaction of $3,338,894.53. Following the completion of the sale, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $102.77, for a total value of $3,338,894.53. Following the completion of the sale, the director now directly owns 1,198 shares of the company’s stock, valued at approximately $123,118.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul A. Friedman sold 18,710 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $242.96, for a total transaction of $4,545,781.60. Following the transaction, the director now owns 185,735 shares in the company, valued at approximately $45,126,175.60. The disclosure for this sale can be found here. In the last three months, insiders sold 146,496 shares of company stock valued at $31,362,420. Company insiders own 23.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Madrigal Pharmaceuticals from $349.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Bank of America assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Monday, April 22nd. They issued an “underperform” rating and a $150.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Citigroup dropped their price objective on shares of Madrigal Pharmaceuticals from $389.00 to $382.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $351.45.

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.