-$2.42 Earnings Per Share Expected for Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) This Quarter

Analysts expect Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) to post earnings per share of ($2.42) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Madrigal Pharmaceuticals’ earnings. The highest EPS estimate is ($2.24) and the lowest is ($2.50). Madrigal Pharmaceuticals reported earnings per share of ($1.28) during the same quarter last year, which would indicate a negative year over year growth rate of 89.1%. The company is expected to announce its next earnings report on Wednesday, August 5th.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($9.48) per share for the current financial year, with EPS estimates ranging from ($10.46) to ($5.45). For the next fiscal year, analysts anticipate that the company will report earnings of ($11.29) per share, with EPS estimates ranging from ($13.63) to ($7.48). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($2.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.94) by ($0.40).

A number of equities research analysts recently weighed in on MDGL shares. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 29th. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, June 11th. Chardan Capital started coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, May 5th. They set a “buy” rating and a $205.00 price objective for the company. Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $166.00 to $155.00 in a research report on Thursday, March 5th. Finally, HC Wainwright lowered their price objective on shares of Madrigal Pharmaceuticals from $215.00 to $168.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $164.22.

Shares of MDGL traded down $5.78 during midday trading on Wednesday, hitting $102.67. The company had a trading volume of 11,275 shares, compared to its average volume of 118,315. The company’s 50 day moving average price is $112.25 and its 200 day moving average price is $91.34. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -14.41 and a beta of 1.30. Madrigal Pharmaceuticals has a 52 week low of $56.82 and a 52 week high of $127.25.

Large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in Madrigal Pharmaceuticals by 4.0% in the 1st quarter. State Street Corp now owns 476,780 shares of the biopharmaceutical company’s stock valued at $31,830,000 after purchasing an additional 18,402 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Madrigal Pharmaceuticals by 95.5% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,433 shares of the biopharmaceutical company’s stock worth $96,000 after purchasing an additional 700 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the 1st quarter worth about $35,000. Tower Research Capital LLC TRC increased its position in Madrigal Pharmaceuticals by 477.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 958 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 792 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in Madrigal Pharmaceuticals in the 1st quarter valued at about $217,000. 71.06% of the stock is owned by institutional investors.

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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