Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Expected to Announce Earnings of -$2.42 Per Share

Brokerages expect Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) to announce ($2.42) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Madrigal Pharmaceuticals’ earnings. The lowest EPS estimate is ($2.50) and the highest is ($2.24). Madrigal Pharmaceuticals reported earnings per share of ($1.28) in the same quarter last year, which suggests a negative year-over-year growth rate of 89.1%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 5th.

On average, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($9.48) per share for the current fiscal year, with EPS estimates ranging from ($10.46) to ($5.45). For the next year, analysts anticipate that the company will report earnings of ($11.29) per share, with EPS estimates ranging from ($13.63) to ($7.48). Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($2.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.94) by ($0.40).

A number of equities analysts have recently commented on MDGL shares. HC Wainwright dropped their price target on shares of Madrigal Pharmaceuticals from $215.00 to $168.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $134.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Citigroup dropped their price target on shares of Madrigal Pharmaceuticals from $166.00 to $155.00 in a research report on Thursday, March 5th. Chardan Capital started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, May 5th. They issued a “buy” rating and a $205.00 price target on the stock. Finally, BMO Capital Markets started coverage on shares of Madrigal Pharmaceuticals in a research report on Thursday, June 4th. They issued a “market perform” rating and a $135.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $164.22.

NASDAQ MDGL traded down $5.78 during trading on Wednesday, reaching $102.67. The company’s stock had a trading volume of 11,275 shares, compared to its average volume of 118,315. Madrigal Pharmaceuticals has a 1-year low of $56.82 and a 1-year high of $127.25. The stock has a market capitalization of $1.67 billion, a PE ratio of -14.41 and a beta of 1.30. The business has a 50-day moving average price of $112.25 and a 200-day moving average price of $91.34.

A number of hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd increased its position in Madrigal Pharmaceuticals by 2.7% during the first quarter. Altshuler Shaham Ltd now owns 7,655 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 203 shares during the period. Swiss National Bank increased its position in Madrigal Pharmaceuticals by 1.9% during the fourth quarter. Swiss National Bank now owns 16,200 shares of the biopharmaceutical company’s stock worth $1,476,000 after acquiring an additional 300 shares during the period. Victory Capital Management Inc. increased its position in Madrigal Pharmaceuticals by 24.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,825 shares of the biopharmaceutical company’s stock worth $166,000 after acquiring an additional 354 shares during the period. JPMorgan Chase & Co. increased its holdings in Madrigal Pharmaceuticals by 14.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,916 shares of the biopharmaceutical company’s stock valued at $195,000 after buying an additional 378 shares during the period. Finally, American International Group Inc. increased its holdings in Madrigal Pharmaceuticals by 9.2% in the 1st quarter. American International Group Inc. now owns 5,342 shares of the biopharmaceutical company’s stock valued at $357,000 after buying an additional 449 shares during the period. 71.06% of the stock is currently owned by institutional investors and hedge funds.

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

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