Madrigal Pharmaceuticals, Inc. (MDGL) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.11, Bloomberg Earnings reports.
Madrigal Pharmaceuticals (MDGL) opened at $44.08 on Friday. Madrigal Pharmaceuticals has a 1-year low of $13.09 and a 1-year high of $52.35.
In other Madrigal Pharmaceuticals news, Director Richard S. Levy purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were purchased at an average price of $16.12 per share, for a total transaction of $32,240.00. Following the completion of the acquisition, the director now owns 7,200 shares of the company’s stock, valued at approximately $116,064. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard S. Levy purchased 3,550 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $15.88 per share, for a total transaction of $56,374.00. Following the acquisition, the director now directly owns 900 shares of the company’s stock, valued at approximately $14,292. The disclosure for this purchase can be found here. Insiders purchased 9,100 shares of company stock worth $145,840 in the last 90 days. 66.40% of the stock is currently owned by insiders.
A hedge fund recently bought a new stake in Madrigal Pharmaceuticals stock. California State Teachers Retirement System purchased a new stake in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,200 shares of the biopharmaceutical company’s stock, valued at approximately $117,000. California State Teachers Retirement System owned 0.06% of Madrigal Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 16.86% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on MDGL shares. Evercore ISI started coverage on shares of Madrigal Pharmaceuticals in a report on Friday, September 22nd. They set an “outperform” rating and a $65.00 price objective on the stock. Roth Capital started coverage on shares of Madrigal Pharmaceuticals in a report on Thursday, October 19th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, JMP Securities increased their price objective on shares of Madrigal Pharmaceuticals from $40.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 13th.
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About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).
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