Brokerages forecast that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will post ($0.73) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Madrigal Pharmaceuticals’ earnings, with estimates ranging from ($0.89) to ($0.63). Madrigal Pharmaceuticals reported earnings of ($0.67) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 9%. The business is scheduled to issue its next quarterly earnings results on Tuesday, March 12th.
On average, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($2.19) per share for the current financial year, with EPS estimates ranging from ($2.35) to ($2.09). For the next year, analysts expect that the company will report earnings of ($3.61) per share, with EPS estimates ranging from ($4.49) to ($3.19). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Madrigal Pharmaceuticals.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.03).
Several brokerages have issued reports on MDGL. Oppenheimer set a $300.00 price target on Madrigal Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $264.00 price target for the company in a report on Saturday, August 11th. BidaskClub downgraded Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 14th. Citigroup began coverage on Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price objective for the company. Finally, Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $297.63.
In related news, Director Fred B. Craves purchased 2,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $124.69 per share, with a total value of $249,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul A. Friedman purchased 4,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were bought at an average cost of $124.00 per share, with a total value of $496,000.00. The disclosure for this purchase can be found here. 56.70% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Madrigal Pharmaceuticals by 52.7% in the third quarter. Vanguard Group Inc. now owns 706,318 shares of the biopharmaceutical company’s stock worth $151,243,000 after buying an additional 243,664 shares in the last quarter. Legal & General Group Plc increased its stake in Madrigal Pharmaceuticals by 166.0% during the third quarter. Legal & General Group Plc now owns 2,535 shares of the biopharmaceutical company’s stock worth $542,000 after acquiring an additional 1,582 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Madrigal Pharmaceuticals by 3.4% during the third quarter. TIAA CREF Investment Management LLC now owns 13,203 shares of the biopharmaceutical company’s stock valued at $2,827,000 after buying an additional 434 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Madrigal Pharmaceuticals by 12.3% during the third quarter. Teachers Advisors LLC now owns 13,180 shares of the biopharmaceutical company’s stock valued at $2,822,000 after buying an additional 1,448 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Madrigal Pharmaceuticals by 37.4% during the third quarter. Macquarie Group Ltd. now owns 32,700 shares of the biopharmaceutical company’s stock valued at $7,002,000 after buying an additional 8,900 shares during the last quarter. Institutional investors and hedge funds own 55.54% of the company’s stock.
Shares of MDGL stock traded down $5.50 during mid-day trading on Friday, reaching $115.16. 325,142 shares of the stock traded hands, compared to its average volume of 392,398. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -45.34 and a beta of 1.44. Madrigal Pharmaceuticals has a 1-year low of $45.54 and a 1-year high of $325.98.
About Madrigal Pharmaceuticals
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.
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