Zacks: Brokerages Anticipate Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Will Post Earnings of -$1.53 Per Share
Wall Street brokerages expect that Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) will post earnings per share (EPS) of ($1.53) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Madrigal Pharmaceuticals’ earnings. The lowest EPS estimate is ($1.74) and the highest is ($1.33). Madrigal Pharmaceuticals reported earnings per share of ($0.75) during the same quarter last year, which would suggest a negative year-over-year growth rate of 104%. The company is expected to report its next quarterly earnings report on Wednesday, February 26th.
On average, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($5.10) per share for the current financial year, with EPS estimates ranging from ($5.39) to ($4.44). For the next year, analysts expect that the firm will post earnings of ($6.79) per share, with EPS estimates ranging from ($8.22) to ($5.22). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Madrigal Pharmaceuticals.
A number of equities research analysts recently commented on MDGL shares. Zacks Investment Research raised shares of Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Canaccord Genuity started coverage on shares of Madrigal Pharmaceuticals in a research note on Thursday, January 30th. They issued a “buy” rating and a $198.00 price objective on the stock. UBS Group raised shares of Madrigal Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $125.00 to $127.00 in a research note on Thursday, January 9th. ValuEngine cut shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup lowered their price objective on shares of Madrigal Pharmaceuticals from $173.00 to $166.00 and set a “buy” rating on the stock in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $161.57.
In other Madrigal Pharmaceuticals news, major shareholder Bay City Capital Llc sold 1,200,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $105.47, for a total transaction of $126,564,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 47.69% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in MDGL. Invesco Ltd. lifted its stake in shares of Madrigal Pharmaceuticals by 159.2% in the second quarter. Invesco Ltd. now owns 66,896 shares of the biopharmaceutical company’s stock worth $7,011,000 after buying an additional 41,083 shares in the last quarter. Morgan Stanley lifted its stake in shares of Madrigal Pharmaceuticals by 7.9% in the second quarter. Morgan Stanley now owns 14,504 shares of the biopharmaceutical company’s stock worth $1,521,000 after buying an additional 1,064 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Madrigal Pharmaceuticals by 82.5% in the second quarter. Cubist Systematic Strategies LLC now owns 2,716 shares of the biopharmaceutical company’s stock worth $285,000 after buying an additional 1,228 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Madrigal Pharmaceuticals by 7.8% in the second quarter. Jane Street Group LLC now owns 2,523 shares of the biopharmaceutical company’s stock worth $265,000 after buying an additional 183 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in shares of Madrigal Pharmaceuticals in the second quarter worth about $3,412,000. 61.79% of the stock is currently owned by institutional investors.
Madrigal Pharmaceuticals Company Profile
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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