Q2 2022 EPS Estimates for Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) Boosted by B. Riley

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Get Rating) – Equities research analysts at B. Riley increased their Q2 2022 EPS estimates for Madrigal Pharmaceuticals in a note issued to investors on Tuesday, May 10th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will post earnings per share of ($3.80) for the quarter, up from their previous estimate of ($4.02). B. Riley also issued estimates for Madrigal Pharmaceuticals’ Q3 2022 earnings at ($4.01) EPS, Q4 2022 earnings at ($3.71) EPS, FY2022 earnings at ($14.91) EPS, FY2023 earnings at ($9.62) EPS and FY2024 earnings at ($7.79) EPS.

MDGL has been the subject of a number of other research reports. Oppenheimer reduced their target price on Madrigal Pharmaceuticals from $180.00 to $170.00 in a report on Tuesday. Canaccord Genuity Group lifted their target price on Madrigal Pharmaceuticals from $133.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research lowered Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, April 28th. StockNews.com started coverage on Madrigal Pharmaceuticals in a report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, JMP Securities reissued a “buy” rating and issued a $220.00 target price on shares of Madrigal Pharmaceuticals in a report on Monday, February 7th. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $162.78.

MDGL stock opened at $65.73 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of -4.49 and a beta of 1.28. The business has a 50 day moving average of $84.19 and a 200 day moving average of $82.24. Madrigal Pharmaceuticals has a twelve month low of $52.33 and a twelve month high of $137.78.

Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($3.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.75) by $0.39. During the same period in the prior year, the business posted ($3.32) EPS.

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in Madrigal Pharmaceuticals by 100.0% during the first quarter. Renaissance Technologies LLC now owns 4,800 shares of the biopharmaceutical company’s stock valued at $471,000 after purchasing an additional 2,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Madrigal Pharmaceuticals by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 88,474 shares of the biopharmaceutical company’s stock valued at $8,682,000 after purchasing an additional 1,756 shares during the period. Affinity Asset Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 15.4% during the first quarter. Affinity Asset Advisors LLC now owns 75,000 shares of the biopharmaceutical company’s stock valued at $7,359,000 after purchasing an additional 10,000 shares during the period. Federated Hermes Inc. bought a new stake in Madrigal Pharmaceuticals during the first quarter valued at about $33,616,000. Finally, Vanguard Group Inc. grew its holdings in Madrigal Pharmaceuticals by 8.2% during the first quarter. Vanguard Group Inc. now owns 1,215,413 shares of the biopharmaceutical company’s stock valued at $119,257,000 after purchasing an additional 92,352 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.

About Madrigal Pharmaceuticals (Get Rating)

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. Its lead product candidate is resmetirom, a liver-directed selective thyroid hormone receptor-ß agonist, which is in Phase III clinical trials for the treatment of non-alcoholic steatohepatitis.

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