Madrigal Pharmaceuticals (MDGL) Scheduled to Post Quarterly Earnings on Tuesday

Madrigal Pharmaceuticals (NASDAQ:MDGL) is scheduled to announce its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($6.06) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.26) by ($0.42). During the same period in the previous year, the company earned ($4.98) earnings per share. On average, analysts expect Madrigal Pharmaceuticals to post $-22 EPS for the current fiscal year and $-14 EPS for the next fiscal year.

Madrigal Pharmaceuticals Stock Up 6.4 %

Shares of MDGL opened at $229.84 on Friday. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $313.11. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $4.89 billion, a PE ratio of -11.53 and a beta of -0.33. The business’s 50 day moving average is $240.99 and its 200 day moving average is $215.18.

Analysts Set New Price Targets

Several equities analysts have recently commented on MDGL shares. JMP Securities boosted their target price on shares of Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. B. Riley raised Madrigal Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price target for the company from $155.00 to $270.00 in a research note on Friday, March 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $405.00 to $425.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup boosted their price target on shares of Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $356.73.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Richard S. Levy sold 11,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $257.48, for a total value of $2,832,280.00. Following the completion of the sale, the director now owns 10,298 shares in the company, valued at approximately $2,651,529.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the director now directly owns 10,298 shares of the company’s stock, valued at approximately $2,651,529.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul A. Friedman sold 18,710 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $242.96, for a total value of $4,545,781.60. Following the completion of the transaction, the director now directly owns 185,735 shares in the company, valued at approximately $45,126,175.60. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock worth $31,362,420 over the last quarter. Insiders own 23.92% of the company’s stock.

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.