Equities Analysts Offer Predictions for MDGL FY2024 Earnings

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) – Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Madrigal Pharmaceuticals in a research report issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now anticipates that the biopharmaceutical company will post earnings per share of ($22.71) for the year, up from their previous forecast of ($23.33). The consensus estimate for Madrigal Pharmaceuticals’ current full-year earnings is ($23.64) per share. Leerink Partnrs also issued estimates for Madrigal Pharmaceuticals’ Q4 2024 earnings at ($3.77) EPS, FY2025 earnings at ($11.19) EPS, FY2027 earnings at $18.81 EPS, FY2028 earnings at $32.73 EPS and FY2029 earnings at $51.49 EPS.

Other equities research analysts have also issued research reports about the company. HC Wainwright upped their target price on Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday, November 20th. UBS Group boosted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer decreased their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $351.67.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $331.79 on Monday. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $314.86 and its 200 day moving average price is $277.67. Madrigal Pharmaceuticals has a 52 week low of $189.00 and a 52 week high of $368.29. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of -13.23 and a beta of -0.38.

Insider Activity

In other news, CMO Rebecca Taub sold 648 shares of Madrigal Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $335.24, for a total transaction of $217,235.52. Following the sale, the chief marketing officer now owns 456,662 shares in the company, valued at $153,091,368.88. This trade represents a 0.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert E. Waltermire sold 442 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now owns 5,058 shares in the company, valued at $1,382,907.78. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,090 shares of company stock valued at $3,883,621. Company insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Paulson & CO. Inc. grew its position in shares of Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares in the last quarter. RTW Investments LP grew its holdings in Madrigal Pharmaceuticals by 4.1% during the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after acquiring an additional 77,825 shares in the last quarter. State Street Corp grew its holdings in Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after acquiring an additional 143,038 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Madrigal Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 405,655 shares of the biopharmaceutical company’s stock worth $86,104,000 after purchasing an additional 5,801 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at about $114,717,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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 thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.