Brokerages forecast that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will report ($0.54) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Madrigal Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.79) and the highest estimate coming in at ($0.32). Madrigal Pharmaceuticals reported earnings of ($0.68) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 20.6%. The business is expected to issue its next earnings report on Thursday, November 8th.
On average, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($2.19) per share for the current fiscal year, with EPS estimates ranging from ($2.55) to ($1.98). For the next year, analysts expect that the company will post earnings of ($3.52) per share, with EPS estimates ranging from ($4.03) to ($2.82). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Madrigal Pharmaceuticals.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18.
A number of equities research analysts have recently commented on the company. Evercore ISI reiterated an “in-line” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, June 27th. Goldman Sachs Group downgraded Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 price objective for the company. in a research report on Monday, August 6th. BidaskClub upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Oppenheimer set a $300.00 price objective on Madrigal Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, Raymond James assumed coverage on Madrigal Pharmaceuticals in a research report on Thursday, June 28th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $314.00.
MDGL traded up $3.98 during trading on Friday, reaching $191.64. The stock had a trading volume of 101,927 shares, compared to its average volume of 279,556. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -75.45 and a beta of 1.21. Madrigal Pharmaceuticals has a 1-year low of $38.82 and a 1-year high of $325.98.
Large investors have recently made changes to their positions in the company. International Biotechnology Trust PLC purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at $2,790,000. TD Asset Management Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 104.9% in the second quarter. TD Asset Management Inc. now owns 16,800 shares of the biopharmaceutical company’s stock valued at $4,699,000 after purchasing an additional 8,600 shares in the last quarter. Boxer Capital LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at $26,571,000. BlackRock Inc. lifted its holdings in shares of Madrigal Pharmaceuticals by 53.1% in the second quarter. BlackRock Inc. now owns 488,499 shares of the biopharmaceutical company’s stock valued at $136,627,000 after purchasing an additional 169,406 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new stake in shares of Madrigal Pharmaceuticals in the second quarter valued at $6,657,000. Institutional investors own 52.83% of the company’s stock.
Madrigal Pharmaceuticals Company Profile
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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