Madrigal Pharmaceuticals (MDGL) to Release Earnings on Thursday

Madrigal Pharmaceuticals (NASDAQ:MDGL) will issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of ($7.11) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) EPS for the quarter, topping analysts’ consensus estimates of ($7.55) by $0.45. The company had revenue of $14.64 million during the quarter, compared to analysts’ expectations of $4.25 million. During the same period in the prior year, the company posted ($4.69) earnings per share. The company’s revenue was up 146280.0% on a year-over-year basis. On average, analysts expect Madrigal Pharmaceuticals to post $-27 EPS for the current fiscal year and $-18 EPS for the next fiscal year.

Madrigal Pharmaceuticals Stock Performance

Shares of MDGL stock opened at $202.48 on Thursday. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -7.94 and a beta of -0.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.67 and a current ratio of 8.72. Madrigal Pharmaceuticals has a one year low of $119.76 and a one year high of $299.98. The company’s 50-day moving average is $229.91 and its 200 day moving average is $243.02.

Wall Street Analyst Weigh In

MDGL has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday. JMP Securities increased their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 16th. Oppenheimer decreased their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $341.75.

Insider Activity at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the sale, the chief executive officer now owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 22.80% of the stock is 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.