HC Wainwright Weighs in on Madrigal Pharmaceuticals, Inc.’s FY2023 Earnings (NASDAQ:MDGL)

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) – Stock analysts at HC Wainwright issued their FY2023 earnings per share estimates for Madrigal Pharmaceuticals in a research note issued on Monday, November 13th. HC Wainwright analyst E. Arce expects that the biopharmaceutical company will post earnings of ($19.47) per share for the year. HC Wainwright currently has a “Buy” rating and a $275.00 target price on the stock. The consensus estimate for Madrigal Pharmaceuticals’ current full-year earnings is ($19.30) per share. HC Wainwright also issued estimates for Madrigal Pharmaceuticals’ Q4 2023 earnings at ($5.18) EPS, Q1 2024 earnings at ($5.39) EPS, Q4 2024 earnings at ($3.33) EPS, FY2024 earnings at ($18.08) EPS, FY2025 earnings at $1.06 EPS and FY2026 earnings at $28.92 EPS.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($5.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.90) by ($0.44).

Several other research analysts have also weighed in on MDGL. Canaccord Genuity Group reissued a “buy” rating and set a $336.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, July 18th. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a report on Tuesday. Evercore ISI reaffirmed an “outperform” rating and set a $325.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, September 19th. JMP Securities reiterated a “market outperform” rating and issued a $383.00 price target on shares of Madrigal Pharmaceuticals in a report on Tuesday. Finally, Oppenheimer reduced their price objective on Madrigal Pharmaceuticals from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.09.

Madrigal Pharmaceuticals Stock Up 7.2 %

MDGL stock opened at $156.47 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 5.16. The firm has a 50 day simple moving average of $149.32 and a 200-day simple moving average of $204.37. The company has a market capitalization of $3.09 billion, a P/E ratio of -8.13 and a beta of -0.70. Madrigal Pharmaceuticals has a twelve month low of $57.21 and a twelve month high of $322.67.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDGL. Bradley & Co. Private Wealth Management LLC raised its stake in shares of Madrigal Pharmaceuticals by 307.4% in the 1st quarter. Bradley & Co. Private Wealth Management LLC now owns 110 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 83 shares in the last quarter. Garda Capital Partners LP bought a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter worth approximately $34,000. Exchange Traded Concepts LLC acquired a new stake in Madrigal Pharmaceuticals during the second quarter valued at approximately $39,000. Montag A & Associates Inc. boosted its holdings in Madrigal Pharmaceuticals by 223.3% during the third quarter. Montag A & Associates Inc. now owns 194 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 134 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $55,000. Institutional investors own 79.86% of the company’s stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor beta agonist, which is in Phase III clinical trials for treating NASH.