-$0.75 EPS Expected for Madrigal Pharmaceuticals Inc (MDGL) This Quarter

Equities research analysts forecast that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will report earnings of ($0.72) per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Madrigal Pharmaceuticals’ earnings. The highest EPS estimate is ($0.63) and the lowest is ($0.83). Madrigal Pharmaceuticals posted earnings of ($0.67) per share during the same quarter last year, which would suggest a negative year over year growth rate of 7.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 12th.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($2.25) per share for the current year, with EPS estimates ranging from ($2.55) to ($2.09). For the next financial year, analysts anticipate that the company will post 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 research firms that follow Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03).

A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Oppenheimer set a $300.00 price objective on shares of Madrigal Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 18th. Cowen reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday. Zacks Investment Research lowered shares of Madrigal Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Citigroup assumed coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $314.00.

A number of hedge funds have recently modified their holdings of the stock. American International Group Inc. increased its position in Madrigal Pharmaceuticals by 21.6% during the third quarter. American International Group Inc. now owns 4,603 shares of the biopharmaceutical company’s stock worth $986,000 after purchasing an additional 818 shares during the last quarter. BlackRock Inc. increased its position in Madrigal Pharmaceuticals by 17.7% during the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after purchasing an additional 86,520 shares during the last quarter. Bank of New York Mellon Corp increased its position in Madrigal Pharmaceuticals by 8.5% during the third quarter. Bank of New York Mellon Corp now owns 37,485 shares of the biopharmaceutical company’s stock worth $8,026,000 after purchasing an additional 2,950 shares during the last quarter. Janus Henderson Group PLC increased its position in Madrigal Pharmaceuticals by 51.1% during the third quarter. Janus Henderson Group PLC now owns 1,343 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 454 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Madrigal Pharmaceuticals by 20.7% during the third quarter. Alliancebernstein L.P. now owns 212,760 shares of the biopharmaceutical company’s stock worth $45,558,000 after purchasing an additional 36,532 shares during the last quarter. 53.06% of the stock is owned by hedge funds and other institutional investors.

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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