Oppenheimer Comments on Madrigal Pharmaceuticals Inc’s FY2018 Earnings (MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) – Research analysts at Oppenheimer cut their FY2018 earnings per share estimates for Madrigal Pharmaceuticals in a research report issued to clients and investors on Tuesday, November 6th. Oppenheimer analyst J. Olson now anticipates that the biopharmaceutical company will post earnings per share of ($2.12) for the year, down from their previous forecast of ($1.98). Oppenheimer currently has a “Buy” rating and a $300.00 target price on the stock. Oppenheimer also issued estimates for Madrigal Pharmaceuticals’ FY2019 earnings at ($3.19) EPS, FY2020 earnings at ($3.87) EPS, FY2021 earnings at ($5.72) EPS and FY2022 earnings at ($1.88) EPS.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.03).

A number of other brokerages have also recently weighed in on MDGL. Zacks Investment Research cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. BidaskClub cut shares of Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Goldman Sachs Group cut shares of Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 target price for the company. in a report on Monday, August 6th. Citigroup assumed coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, September 4th. They set a “buy” rating and a $340.00 target price for the company. Finally, Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $314.00.

Shares of NASDAQ:MDGL opened at $184.49 on Friday. The company has a market cap of $3.20 billion, a P/E ratio of -72.63 and a beta of 1.56. Madrigal Pharmaceuticals has a 1-year low of $38.82 and a 1-year high of $325.98.

A number of large investors have recently modified their holdings of the stock. Baker BROS. Advisors LP boosted its stake in Madrigal Pharmaceuticals by 89.9% in the 2nd quarter. Baker BROS. Advisors LP now owns 1,169,278 shares of the biopharmaceutical company’s stock worth $327,035,000 after purchasing an additional 553,594 shares during the period. BlackRock Inc. boosted its stake in Madrigal Pharmaceuticals by 17.7% in the 3rd quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after purchasing an additional 86,520 shares during the period. Jennison Associates LLC boosted its stake in Madrigal Pharmaceuticals by 38.1% in the 3rd quarter. Jennison Associates LLC now owns 223,371 shares of the biopharmaceutical company’s stock worth $47,830,000 after purchasing an additional 61,586 shares during the period. Alliancebernstein L.P. boosted its stake in Madrigal Pharmaceuticals by 20.7% in the 3rd quarter. Alliancebernstein L.P. now owns 212,760 shares of the biopharmaceutical company’s stock worth $45,558,000 after purchasing an additional 36,532 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Madrigal Pharmaceuticals by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 193,698 shares of the biopharmaceutical company’s stock worth $41,476,000 after purchasing an additional 9,451 shares during the period. Hedge funds and other institutional investors own 53.06% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

See Also: Intrinsic Value

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