Leerink Partnrs Comments on Madrigal Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:MDGL)

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGLFree Report) – Analysts at Leerink Partnrs issued their Q1 2024 earnings estimates for shares of Madrigal Pharmaceuticals in a research note issued to investors on Monday, February 5th. Leerink Partnrs analyst T. Smith forecasts that the biopharmaceutical company will post earnings of ($5.11) per share for the quarter. The consensus estimate for Madrigal Pharmaceuticals’ current full-year earnings is ($19.46) per share. Leerink Partnrs also issued estimates for Madrigal Pharmaceuticals’ Q2 2024 earnings at ($5.18) EPS, Q3 2024 earnings at ($4.53) EPS, Q4 2024 earnings at ($3.21) EPS, FY2026 earnings at $18.55 EPS, FY2027 earnings at $25.58 EPS and FY2028 earnings at $33.31 EPS.

Several other analysts also recently commented on MDGL. JMP Securities reaffirmed a “market outperform” rating and issued a $383.00 price objective on shares of Madrigal Pharmaceuticals in a report on Tuesday, November 14th. Piper Sandler upped their price objective on shares of Madrigal Pharmaceuticals from $305.00 to $336.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a research report on Wednesday. Finally, HC Wainwright upped their price objective on shares of Madrigal Pharmaceuticals from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.14.

Check Out Our Latest Stock Report on Madrigal Pharmaceuticals

Madrigal Pharmaceuticals Trading Down 9.1 %

Shares of Madrigal Pharmaceuticals stock opened at $171.37 on Wednesday. The firm’s 50 day simple moving average is $226.46 and its two-hundred day simple moving average is $186.94. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -8.91 and a beta of -0.48. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 5.16. Madrigal Pharmaceuticals has a 12-month low of $119.76 and a 12-month high of $322.67.

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

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Bros. Advisors Lp Baker acquired 64,350 shares of Madrigal Pharmaceuticals stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average price of $188.47 per share, for a total transaction of $12,128,044.50. Following the transaction, the director now owns 1,667,104 shares of the company’s stock, valued at $314,199,090.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Madrigal Pharmaceuticals news, SVP Brian Joseph Lynch sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $199.19, for a total value of $796,760.00. Following the transaction, the senior vice president now directly owns 15,001 shares in the company, valued at approximately $2,988,049.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bros. Advisors Lp Baker bought 64,350 shares of Madrigal Pharmaceuticals stock in a transaction on Tuesday, November 21st. The stock was purchased at an average price of $188.47 per share, for a total transaction of $12,128,044.50. Following the completion of the acquisition, the director now owns 1,667,104 shares in the company, valued at approximately $314,199,090.88. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 226,067 shares of company stock worth $43,382,043 and sold 8,300 shares worth $1,754,226. Company insiders own 23.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Alliancebernstein L.P. grew its position in shares of Madrigal Pharmaceuticals by 1,468.0% during the second quarter. Alliancebernstein L.P. now owns 371,116 shares of the biopharmaceutical company’s stock worth $85,728,000 after buying an additional 347,448 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the first quarter valued at about $33,616,000. Perceptive Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 50.6% during the first quarter. Perceptive Advisors LLC now owns 650,562 shares of the biopharmaceutical company’s stock valued at $157,605,000 after purchasing an additional 218,630 shares in the last quarter. AlpInvest Partners B.V. bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter valued at about $48,934,000. Finally, RA Capital Management L.P. bought a new stake in shares of Madrigal Pharmaceuticals during the third quarter valued at about $29,865,000. 79.86% of the stock is currently owned by hedge funds and other institutional investors.

Madrigal Pharmaceuticals Company Profile

(Get Free Report)

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.

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

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