Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Expected to Post Earnings of -$1.36 Per Share

Wall Street brokerages expect Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) to post earnings of ($1.36) per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Madrigal Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($1.49) and the highest estimate coming in at ($1.17). Madrigal Pharmaceuticals posted earnings per share of ($0.56) during the same quarter last year, which would indicate a negative year-over-year growth rate of 142.9%. The company is expected to announce its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($5.05) per share for the current fiscal year, with EPS estimates ranging from ($5.35) to ($4.44). For the next financial year, analysts expect that the business will post earnings of ($6.40) per share, with EPS estimates ranging from ($7.81) to ($5.22). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.22) by ($0.06). During the same quarter last year, the company posted ($0.45) earnings per share.

A number of analysts have commented on MDGL shares. Zacks Investment Research raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 21st. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Thursday, August 8th. Citigroup cut their target price on shares of Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Stifel Nicolaus set a $126.00 target price on shares of Madrigal Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $173.56.

Large investors have recently made changes to their positions in the business. Pearl River Capital LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 199.6% in the 1st quarter. Pearl River Capital LLC now owns 758 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 505 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Madrigal Pharmaceuticals by 26.4% in the 1st quarter. First Mercantile Trust Co. now owns 789 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 165 shares in the last quarter. Quantamental Technologies LLC lifted its holdings in shares of Madrigal Pharmaceuticals by 11.6% in the 1st quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 93 shares in the last quarter. Resources Investment Advisors Inc. bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $121,000. Finally, Howe & Rusling Inc. bought a new position in shares of Madrigal Pharmaceuticals in the first quarter valued at $155,000. Institutional investors and hedge funds own 60.59% of the company’s stock.

Shares of NASDAQ:MDGL traded up $2.51 during trading on Friday, reaching $92.47. The stock had a trading volume of 99,820 shares, compared to its average volume of 196,315. The firm’s fifty day moving average is $94.04 and its 200 day moving average is $110.47. Madrigal Pharmaceuticals has a 52 week low of $82.39 and a 52 week high of $255.68. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -41.65 and a beta of 1.18.

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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