Madrigal Pharmaceuticals Inc (MDGL) Expected to Announce Earnings of -$0.75 Per Share

Equities analysts expect that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will report ($0.75) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Madrigal Pharmaceuticals’ earnings, with estimates ranging from ($0.89) to ($0.63). Madrigal Pharmaceuticals reported earnings of ($0.67) per share during the same quarter last year, which indicates a negative year over year growth rate of 11.9%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, March 12th.

On average, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($2.21) per share for the current year, with EPS estimates ranging from ($2.35) to ($2.09). For the next year, analysts expect that the company will report earnings of ($3.74) per share, with EPS estimates ranging from ($4.49) to ($3.19). Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.03).

Several brokerages recently commented on MDGL. Zacks Investment Research upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Wednesday, January 9th. HC Wainwright restated a “buy” rating and issued a $313.00 target price on shares of Madrigal Pharmaceuticals in a report on Wednesday, December 12th. B. Riley started coverage on Madrigal Pharmaceuticals in a report on Tuesday, December 11th. They issued a “neutral” rating and a $124.00 target price for the company. BidaskClub cut Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, November 17th. Finally, Oppenheimer set a $200.00 target price on Madrigal Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, December 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $248.22.

In other Madrigal Pharmaceuticals news, CEO Paul A. Friedman purchased 4,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were acquired at an average price of $124.00 per share, with a total value of $496,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Fred B. Craves purchased 2,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was acquired at an average cost of $124.69 per share, for a total transaction of $249,380.00. The disclosure for this purchase can be found here. Corporate insiders own 56.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its stake in Madrigal Pharmaceuticals by 19.5% during the 2nd quarter. Voya Investment Management LLC now owns 2,294 shares of the biopharmaceutical company’s stock worth $642,000 after acquiring an additional 374 shares in the last quarter. Rhumbline Advisers lifted its stake in Madrigal Pharmaceuticals by 7.5% during the 3rd quarter. Rhumbline Advisers now owns 6,123 shares of the biopharmaceutical company’s stock worth $1,311,000 after acquiring an additional 429 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Madrigal Pharmaceuticals by 3.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 13,203 shares of the biopharmaceutical company’s stock worth $2,827,000 after acquiring an additional 434 shares in the last quarter. SG Americas Securities LLC acquired a new position in Madrigal Pharmaceuticals during the 2nd quarter worth about $124,000. Finally, Janus Henderson Group PLC lifted its stake in Madrigal Pharmaceuticals by 51.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,343 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 454 shares in the last quarter. 55.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of MDGL traded up $2.01 during trading hours on Tuesday, hitting $120.05. 196,016 shares of the stock were exchanged, compared to its average volume of 224,114. Madrigal Pharmaceuticals has a 12-month low of $91.56 and a 12-month high of $325.98. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -47.26 and a beta of 1.32.

About Madrigal Pharmaceuticals

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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