Madrigal Pharmaceuticals (MDGL) Set to Announce Quarterly Earnings on Thursday

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) will release its earnings data before the market opens on Thursday, October 31st. Analysts expect Madrigal Pharmaceuticals to post earnings of ($7.11) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Madrigal Pharmaceuticals (NASDAQ:MDGLGet Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($7.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.55) by $0.45. The firm had revenue of $14.64 million during the quarter, compared to analyst estimates of $4.25 million. The business’s quarterly revenue was up 146280.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.69) earnings per share. 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 Up 3.0 %

Shares of NASDAQ:MDGL opened at $217.00 on Tuesday. Madrigal Pharmaceuticals has a fifty-two week low of $120.65 and a fifty-two week high of $299.98. The company has a quick ratio of 8.67, a current ratio of 8.72 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $228.28 and its 200-day simple moving average is $242.42. The company has a market cap of $4.62 billion, a price-to-earnings ratio of -9.40 and a beta of -0.44.

Analysts Set New Price Targets

A number of brokerages have weighed in on MDGL. JMP Securities lifted their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the company a “market outperform” rating in a report on Tuesday, July 16th. Evercore ISI dropped their price objective on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. StockNews.com raised shares of Madrigal Pharmaceuticals to a “sell” rating in a research note on Saturday, October 12th. Finally, Citigroup reduced their price objective on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $341.75.

Get Our Latest Stock Report on MDGL

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now owns 55,887 shares of the company’s stock, valued at $13,626,927.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 23.92% of the company’s stock.

About Madrigal Pharmaceuticals

(Get Free Report)

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.

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Earnings History for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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