Analysts Anticipate Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Will Post Earnings of -$1.36 Per Share

Wall Street brokerages forecast that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will post earnings of ($1.36) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Madrigal Pharmaceuticals’ earnings. The lowest EPS estimate is ($1.49) and the highest is ($1.17). Madrigal Pharmaceuticals reported earnings of ($0.56) per share in the same quarter last year, which indicates a negative year over year growth rate of 142.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($5.05) per share for the current financial year, with EPS estimates ranging from ($5.35) to ($4.44). For the next year, analysts forecast that the firm will report earnings of ($6.40) per share, with EPS estimates ranging from ($7.81) to ($5.22). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.22) by ($0.06). During the same period last year, the company earned ($0.45) EPS.

A number of analysts have recently weighed in on the stock. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $225.00 price target on shares of Madrigal Pharmaceuticals in a report on Wednesday, July 3rd. ValuEngine raised shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Citigroup cut their price target on shares of Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $173.56.

Several hedge funds have recently bought and sold shares of MDGL. Cambridge Investment Research Advisors Inc. increased its stake in Madrigal Pharmaceuticals by 2.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,700 shares of the biopharmaceutical company’s stock valued at $1,541,000 after purchasing an additional 300 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Madrigal Pharmaceuticals in the second quarter valued at $3,412,000. Jane Street Group LLC increased its position in Madrigal Pharmaceuticals by 7.8% in the 2nd quarter. Jane Street Group LLC now owns 2,523 shares of the biopharmaceutical company’s stock valued at $265,000 after buying an additional 183 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Madrigal Pharmaceuticals by 82.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,716 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 1,228 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Madrigal Pharmaceuticals by 178.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 57,900 shares of the biopharmaceutical company’s stock valued at $6,068,000 after buying an additional 37,133 shares in the last quarter. 60.59% of the stock is owned by hedge funds and other institutional investors.

MDGL traded up $2.51 on Friday, hitting $92.47. 99,820 shares of the stock were exchanged, compared to its average volume of 196,315. Madrigal Pharmaceuticals has a 12 month low of $82.39 and a 12 month high of $255.68. The business has a 50-day moving average of $94.04 and a two-hundred day moving average of $110.47. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -41.65 and a beta of 1.18.

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.

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Earnings History and Estimates for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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