Zacks: Analysts Anticipate Madrigal Pharmaceuticals Inc (MDGL) to Post -$0.54 Earnings Per Share

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Equities analysts expect that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will announce earnings of ($0.54) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Madrigal Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.79) and the highest is ($0.32). Madrigal Pharmaceuticals reported earnings per share of ($0.68) in the same quarter last year, which indicates a positive year-over-year growth rate of 20.6%. The business is scheduled to announce its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full year earnings of ($2.19) per share for the current year, with EPS estimates ranging from ($2.55) to ($1.98). For the next fiscal year, analysts anticipate that the business will post earnings of ($3.52) per share, with EPS estimates ranging from ($4.03) to ($2.82). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18.

MDGL has been the subject of a number of analyst reports. Zacks Investment Research downgraded Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Oppenheimer set a $300.00 price target on Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 18th. BidaskClub upgraded Madrigal Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Goldman Sachs Group downgraded Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 price target for the company. in a research report on Monday, August 6th. Finally, Citigroup initiated coverage on Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $314.00.

Several large investors have recently added to or reduced their stakes in MDGL. Baker BROS. Advisors LP lifted its position in shares of Madrigal Pharmaceuticals by 89.9% during the second quarter. Baker BROS. Advisors LP now owns 1,169,278 shares of the biopharmaceutical company’s stock worth $327,035,000 after purchasing an additional 553,594 shares during the last quarter. BlackRock Inc. lifted its position in shares of Madrigal Pharmaceuticals by 53.1% during the second quarter. BlackRock Inc. now owns 488,499 shares of the biopharmaceutical company’s stock worth $136,627,000 after purchasing an additional 169,406 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $37,742,000. Boxer Capital LLC bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $26,571,000. Finally, Millennium Management LLC lifted its position in shares of Madrigal Pharmaceuticals by 2,263.4% during the first quarter. Millennium Management LLC now owns 92,291 shares of the biopharmaceutical company’s stock worth $10,779,000 after purchasing an additional 88,386 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

MDGL traded up $3.98 during trading on Friday, reaching $191.64. The company had a trading volume of 101,927 shares, compared to its average volume of 279,556. The company has a market cap of $3.29 billion, a PE ratio of -75.45 and a beta of 1.21. Madrigal Pharmaceuticals has a 52 week low of $38.82 and a 52 week high of $325.98.

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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