Brokerages Anticipate Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) to Post -$3.76 Earnings Per Share

Wall Street brokerages expect Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Rating) to report ($3.76) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Madrigal Pharmaceuticals’ earnings. The lowest EPS estimate is ($3.95) and the highest is ($3.35). Madrigal Pharmaceuticals reported earnings of ($3.72) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 1.1%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($14.55) per share for the current year, with EPS estimates ranging from ($15.98) to ($12.48). For the next year, analysts anticipate that the firm will report earnings of ($11.17) per share, with EPS estimates ranging from ($16.72) to ($7.98). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last released its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($3.36) EPS for the quarter, topping analysts’ consensus estimates of ($3.75) by $0.39. During the same period in the previous year, the company earned ($3.32) earnings per share.

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Madrigal Pharmaceuticals from $133.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, May 12th. StockNews.com initiated coverage on Madrigal Pharmaceuticals in a research note on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research cut Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, April 28th. Finally, Oppenheimer lowered their price objective on Madrigal Pharmaceuticals from $180.00 to $170.00 in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Madrigal Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $159.00.

Shares of Madrigal Pharmaceuticals stock opened at $74.30 on Thursday. Madrigal Pharmaceuticals has a twelve month low of $52.33 and a twelve month high of $110.29. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -5.07 and a beta of 1.29. The company has a fifty day moving average price of $74.08 and a 200 day moving average price of $79.95.

Several hedge funds and other institutional investors have recently bought and sold shares of MDGL. Marshall Wace LLP acquired a new stake in Madrigal Pharmaceuticals in the 4th quarter valued at about $52,000. Advisor Group Holdings Inc. grew its position in Madrigal Pharmaceuticals by 183.0% in the third quarter. Advisor Group Holdings Inc. now owns 866 shares of the biopharmaceutical company’s stock worth $70,000 after buying an additional 560 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new position in Madrigal Pharmaceuticals in the first quarter worth approximately $123,000. Ensign Peak Advisors Inc bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter valued at $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Madrigal Pharmaceuticals by 29.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,626 shares of the biopharmaceutical company’s stock valued at $160,000 after acquiring an additional 367 shares during the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

About Madrigal Pharmaceuticals (Get Rating)

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. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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