-$0.69 EPS Expected for Madrigal Pharmaceuticals Inc (MDGL) This Quarter

Analysts expect that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will report earnings of ($0.69) per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Madrigal Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.72) and the highest estimate coming in at ($0.65). Madrigal Pharmaceuticals reported earnings per share of ($0.67) in the same quarter last year, which indicates a negative year over year growth rate of 3%. The company is expected to announce its next earnings report on Monday, April 2nd.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($2.57) per share for the current year, with EPS estimates ranging from ($2.60) to ($2.54). For the next fiscal year, analysts forecast that the firm will report earnings of ($3.01) per share, with EPS estimates ranging from ($3.49) to ($2.52). Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.11.

Several equities research analysts have weighed in on MDGL shares. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, December 20th. Roth Capital increased their target price on shares of Madrigal Pharmaceuticals from $82.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Evercore ISI increased their target price on shares of Madrigal Pharmaceuticals from $65.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, December 7th. HC Wainwright increased their target price on shares of Madrigal Pharmaceuticals from $54.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, JMP Securities increased their target price on shares of Madrigal Pharmaceuticals from $63.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $129.00.

A number of institutional investors and hedge funds have recently bought and sold shares of MDGL. Jennison Associates LLC acquired a new stake in Madrigal Pharmaceuticals in the fourth quarter worth $18,744,000. Victory Capital Management Inc. acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $2,274,000. State Street Corp acquired a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth $539,000. Northern Trust Corp raised its holdings in shares of Madrigal Pharmaceuticals by 151.2% during the second quarter. Northern Trust Corp now owns 50,069 shares of the biopharmaceutical company’s stock worth $814,000 after acquiring an additional 30,134 shares during the period. Finally, VHCP Management II LLC acquired a new stake in shares of Madrigal Pharmaceuticals during the third quarter worth $1,349,000. Institutional investors own 19.08% of the company’s stock.

Shares of Madrigal Pharmaceuticals (NASDAQ:MDGL) opened at $121.80 on Monday. The firm has a market cap of $1,705.41, a price-to-earnings ratio of -47.95 and a beta of 0.80. Madrigal Pharmaceuticals has a twelve month low of $13.09 and a twelve month high of $133.81.

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Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, formerly Synta Pharmaceuticals Corp., is a clinical-stage biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular-metabolic diseases and nonalcoholic steatohepatitis (NASH). The Company’s lead product, MGL-3196, is a Phase II-ready once-daily, oral, liver-directed selective thyroid hormone receptor-b (THR-b) agonist for the treatment of NASH, and heterozygous and homozygous familial hypercholesterolemia (FH).

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