What is HC Wainwright's Forecast for MDGL FY2024 Earnings?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Research analysts at HC Wainwright issued their FY2024 earnings estimates for shares of Madrigal Pharmaceuticals in a note issued to investors on Tuesday, January 14th. HC Wainwright analyst E. Arce forecasts that the biopharmaceutical company will post earnings of ($22.53) per share for the year. HC Wainwright has a "Buy" rating and a $400.00 price objective on the stock. The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($23.77) per share. HC Wainwright also issued estimates for Madrigal Pharmaceuticals' Q4 2024 earnings at ($3.31) EPS, Q1 2025 earnings at ($2.10) EPS, Q2 2025 earnings at ($0.73) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at $0.24 EPS, FY2025 earnings at ($2.97) EPS, FY2026 earnings at $10.90 EPS, FY2027 earnings at $40.59 EPS, FY2028 earnings at $63.10 EPS and FY2029 earnings at $100.77 EPS.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, topping analysts' consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analyst estimates of $34.60 million. During the same period last year, the firm earned ($5.34) earnings per share.

MDGL has been the topic of several other research reports. Oppenheimer reduced their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. B. Riley lifted their price target on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Cantor Fitzgerald restated a "neutral" rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. JMP Securities reiterated a "market outperform" rating and set a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Finally, StockNews.com upgraded Madrigal Pharmaceuticals to a "sell" rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $351.67.

Madrigal Pharmaceuticals Trading Up 7.6 %

MDGL traded up $20.85 during midday trading on Friday, reaching $293.64. 864,385 shares of the company were exchanged, compared to its average volume of 489,589. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. The stock has a market capitalization of $6.40 billion, a P/E ratio of -11.71 and a beta of -0.36. The stock's 50-day simple moving average is $314.19 and its 200 day simple moving average is $272.68. Madrigal Pharmaceuticals has a one year low of $168.25 and a one year high of $368.29.

Insiders Place Their Bets

In other Madrigal Pharmaceuticals news, VP Robert E. Waltermire sold 442 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $273.41, for a total transaction of $120,847.22. Following the sale, the vice president now directly owns 5,058 shares of the company's stock, valued at $1,382,907.78. The trade was a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Fred B. Craves sold 3,400 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $350.30, for a total value of $1,191,020.00. Following the completion of the transaction, the director now owns 14,600 shares of the company's stock, valued at $5,114,380. The trade was a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,131 shares of company stock valued at $4,413,473 in the last quarter. 22.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Braidwell LP acquired a new stake in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at approximately $39,010,000. Eagle Asset Management Inc. acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at $6,875,000. Intech Investment Management LLC acquired a new stake in Madrigal Pharmaceuticals in the third quarter valued at $1,280,000. Vestal Point Capital LP bought a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at about $6,367,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Madrigal Pharmaceuticals during the 3rd quarter worth about $393,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.