Madrigal Pharmaceuticals (MDGL) Set to Announce Earnings on Tuesday

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

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($5.68) EPS for the quarter, missing the consensus estimate of ($5.26) by ($0.42). During the same period last year, the business 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 Madrigal Pharmaceuticals stock opened at $229.84 on Monday. The stock has a 50-day moving average price of $240.99 and a 200 day moving average price of $215.73. Madrigal Pharmaceuticals has a 1 year low of $119.76 and a 1 year high of $313.11. 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 Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director James M. Daly sold 32,489 shares of Madrigal Pharmaceuticals 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 sale, the director now owns 1,198 shares in the company, valued at $123,118.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director James M. Daly sold 32,489 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $102.77, for a total value of $3,338,894.53. Following the sale, the director now directly owns 1,198 shares in the company, valued at approximately $123,118.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul A. Friedman sold 26,270 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $246.19, for a total value of $6,467,411.30. Following the transaction, the director now owns 185,735 shares of the company’s stock, valued at approximately $45,726,099.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,496 shares of company stock worth $31,362,420. 23.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MDGL has been the subject of several recent research reports. StockNews.com upgraded Madrigal Pharmaceuticals to a “sell” rating in a report on Friday, April 12th. Canaccord Genuity Group upped their price target on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. JMP Securities raised their price objective on Madrigal Pharmaceuticals from $351.00 to $397.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Citigroup raised their price objective on Madrigal Pharmaceuticals from $382.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $336.00 price objective on shares of Madrigal Pharmaceuticals in a research note on Thursday, March 14th. Two investment 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. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $356.73.

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.