Brokerages forecast that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will announce earnings of ($0.68) per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Madrigal Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.71) and the highest is ($0.65). Madrigal Pharmaceuticals posted earnings per share of ($0.67) during the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The business is expected to report its next quarterly earnings report on Monday, April 2nd.
According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($2.57) per share for the current financial year, with EPS estimates ranging from ($2.59) to ($2.54). For the next year, analysts expect that the company will post earnings of ($3.24) per share, with EPS estimates ranging from ($3.49) to ($2.98). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Madrigal Pharmaceuticals.
A number of research firms have weighed in on MDGL. Roth Capital upped their price target on Madrigal Pharmaceuticals from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Evercore ISI reiterated an “outperform” rating and set a $175.00 target price (up from $140.00) on shares of Madrigal Pharmaceuticals in a research note on Thursday, February 8th. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. HC Wainwright increased their target price on Madrigal Pharmaceuticals from $105.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, BidaskClub upgraded Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $154.20.
Madrigal Pharmaceuticals (NASDAQ MDGL) opened at $130.12 on Thursday. The firm has a market capitalization of $1,869.09, a P/E ratio of -51.23 and a beta of 1.19. Madrigal Pharmaceuticals has a fifty-two week low of $13.09 and a fifty-two week high of $154.75.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter valued at approximately $100,000. New York State Common Retirement Fund purchased a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $109,000. California State Teachers Retirement System purchased a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $117,000. TIAA CREF Investment Management LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 2nd quarter valued at approximately $120,000. Finally, Metropolitan Life Insurance Co. NY purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter valued at approximately $133,000. Institutional investors own 21.71% of the company’s stock.
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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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