Madrigal Pharmaceuticals (NASDAQ:MDGL) Announces Quarterly Earnings Results

Posted by Stanley Muller on Jul 31st, 2026

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.68) by $0.69, FiscalAI reports. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The firm had revenue of $364.25 million during the quarter, compared to the consensus estimate of $352.13 million. During the same quarter in the prior year, the company earned ($1.90) EPS. The business’s revenue for the quarter was up 71.2% on a year-over-year basis.

Here are the key takeaways from Madrigal Pharmaceuticals’ conference call:

Rezdiffra sales and patient growth remained strong: Second-quarter net sales reached $364.3 million, up 71% year over year, with more than 49,000 active patients at quarter-end and over 50,000 reached in July. Management said it remains comfortable with consensus growth expectations for the rest of 2026.
The U.S. addressable F2/F3 MASH market has expanded nearly 50% since year-end 2023, while diagnosis and treatment penetration remain low. Madrigal expects double-digit market growth for the foreseeable future and views the untreated F4C population as potentially capable of doubling Rezdiffra’s opportunity.
Madrigal reported progress in extending Rezdiffra’s commercial life and building its pipeline, including new patents supporting F2/F3 protection through 2045 and additional F4C protection into the 2040s. The company expects to initiate three Phase II combination trials in 2027 involving an oral GLP-1, a DGAT2 inhibitor, and an siRNA targeting PNPLA3.
The F4C MAESTRO-NASH Outcomes trial continues to accrue events and remains on track for a 2027 readout, but executives did not provide a more precise timing estimate or confirm the final event threshold. Management emphasized that the trial is pioneering and that event-rate uncertainty makes timing difficult to narrow.
Despite strong revenue growth, the company posted a second-quarter net loss of $57.9 million, while cash, restricted cash, and marketable securities declined to $838.9 million from $988.6 million at year-end 2025. SG&A is expected to rise in 2026 as Madrigal continues commercial investment, and European revenue is expected to remain negligible because of reimbursement and pricing uncertainty.

Madrigal Pharmaceuticals Price Performance

MDGL stock traded down $29.34 during mid-day trading on Friday, hitting $463.77. 545,528 shares of the stock were exchanged, compared to its average volume of 353,300. The business has a fifty day moving average price of $517.48 and a 200 day moving average price of $499.27. Madrigal Pharmaceuticals has a 12 month low of $290.00 and a 12 month high of $615.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of -36.23 and a beta of -1.05.

Analysts Set New Price Targets

MDGL has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Monday. They issued an “overweight” rating and a $685.00 price objective for the company. Truist Financial increased their target price on Madrigal Pharmaceuticals from $640.00 to $709.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Bank of America decreased their price objective on Madrigal Pharmaceuticals from $550.00 to $542.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Piper Sandler reissued an “overweight” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, June 24th. Finally, Evercore set a $649.00 target price on Madrigal Pharmaceuticals in a research note on Thursday, May 7th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Madrigal Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $688.20.

Read Our Latest Stock Analysis on MDGL

Insider Transactions at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, Director Richard S. Levy sold 5,682 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $515.44, for a total transaction of $2,928,730.08. Following the transaction, the director directly owned 22,015 shares in the company, valued at $11,347,411.60. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Soergel sold 1,042 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $495.74, for a total transaction of $516,561.08. Following the transaction, the insider directly owned 10,033 shares in the company, valued at $4,973,759.42. This trade represents a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,568 shares of company stock worth $3,880,711. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of institutional investors have recently made changes to their positions in MDGL. Quarry LP purchased a new position in Madrigal Pharmaceuticals in the 3rd quarter worth $39,000. Kemnay Advisory Services Inc. purchased a new stake in Madrigal Pharmaceuticals during the 4th quarter valued at about $39,000. Johnson Financial Group Inc. bought a new position in Madrigal Pharmaceuticals during the 3rd quarter worth approximately $50,000. Kestra Investment Management LLC bought a new position in Madrigal Pharmaceuticals during the 2nd quarter worth approximately $85,000. Finally, Smartleaf Asset Management LLC increased its stake in Madrigal Pharmaceuticals by 50.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 187 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Madrigal Pharmaceuticals News Roundup

Here are the key news stories impacting Madrigal Pharmaceuticals this week:

Positive Sentiment: Rezdiffra, Madrigal’s treatment for metabolic dysfunction-associated steatohepatitis (MASH), continued to drive strong growth. Second-quarter revenue increased 71.2% year over year to $364.25 million, exceeding the $352.13 million consensus estimate. Madrigal Pharmaceuticals Reports Second-Quarter 2026 Financial Results
Positive Sentiment: Madrigal reported a second-quarter loss of $1.99 per share, narrower than the $2.68 consensus estimate and the primary reason the earnings report initially offered a positive surprise. Madrigal Reports Q2 Loss, Beats Revenue Estimates
Positive Sentiment: Wells Fargo analysts assigned MDGL an Overweight rating, providing additional analyst support for the stock. Madrigal Earns Overweight Rating from Wells Fargo
Neutral Sentiment: The earnings release and conference call highlighted Madrigal’s ongoing commercial and corporate updates, with investors evaluating whether Rezdiffra can sustain its early launch momentum. Madrigal Q2 2026 Earnings Call Transcript
Negative Sentiment: Despite the revenue and earnings beats, shares decreased as investors weighed signs of slower commercial growth. The company also remains unprofitable, with the quarterly loss widening from $1.90 per share a year earlier and negative net margins. MDGL Stock Down Despite Q2 Beat

Madrigal Pharmaceuticals Company Profile

(Get Free Report)

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.