Equities research analysts expect that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will announce earnings per share of ($0.72) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Madrigal Pharmaceuticals’ earnings. The highest EPS estimate is ($0.63) and the lowest is ($0.83). Madrigal Pharmaceuticals posted earnings per share of ($0.67) in the same quarter last year, which indicates a negative year over year growth rate of 7.5%. The business is scheduled to issue its next earnings results on Tuesday, March 12th.
On average, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($2.25) per share for the current fiscal year, with EPS estimates ranging from ($2.55) to ($2.09). For the next financial year, analysts forecast that the company will report earnings of ($3.45) per share, with EPS estimates ranging from ($4.03) to ($3.19). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Madrigal Pharmaceuticals.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.03).
Several analysts have issued reports on the stock. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Oppenheimer set a $300.00 price objective on shares of Madrigal Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Wednesday. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Citigroup assumed coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $314.00.
Institutional investors have recently bought and sold shares of the company. International Biotechnology Trust PLC bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $2,790,000. BlackRock Inc. raised its stake 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 valued at $136,627,000 after acquiring an additional 169,406 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Madrigal Pharmaceuticals by 104.9% during the second quarter. TD Asset Management Inc. now owns 16,800 shares of the biopharmaceutical company’s stock valued at $4,699,000 after acquiring an additional 8,600 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $6,657,000. Finally, SG Americas Securities LLC bought a new stake in shares of Madrigal Pharmaceuticals during the second quarter valued at approximately $124,000. 53.06% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MDGL opened at $184.49 on Wednesday. Madrigal Pharmaceuticals has a 1 year low of $38.82 and a 1 year 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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