B. Riley Has Bullish Estimate for MDGL FY2024 Earnings

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Research analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of Madrigal Pharmaceuticals in a report released on Monday, November 4th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings per share of ($23.09) for the year, up from their prior estimate of ($27.70). B. Riley currently has a "Neutral" rating and a $236.00 target price on the stock. The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($25.19) per share. B. Riley also issued estimates for Madrigal Pharmaceuticals' Q4 2024 earnings at ($3.86) EPS, Q2 2025 earnings at ($3.09) EPS, FY2025 earnings at ($11.72) EPS, FY2026 earnings at $15.22 EPS and FY2027 earnings at $32.42 EPS.

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

Other analysts have also recently issued research reports about the company. Evercore ISI lowered their price target on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. UBS Group lifted their price target on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research report on Saturday, October 12th. Oppenheimer decreased their price objective on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup decreased their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $347.33.

Madrigal Pharmaceuticals Stock Performance

MDGL traded up $16.63 on Thursday, reaching $354.85. 675,801 shares of the stock were exchanged, compared to its average volume of 442,857. The company's 50-day moving average price is $234.44 and its 200 day moving average price is $245.87. Madrigal Pharmaceuticals has a fifty-two week low of $133.99 and a fifty-two week high of $368.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a market capitalization of $7.74 billion, a PE ratio of -14.15 and a beta of -0.46.

Insider Buying and Selling

In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William John Sibold sold 6,363 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total value of $1,551,490.29. Following the completion of the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard S. Levy sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company's stock, valued at $3,313,951.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MDGL. Oppenheimer Asset Management Inc. raised its stake in shares of Madrigal Pharmaceuticals by 2.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company's stock valued at $320,000 after acquiring an additional 31 shares in the last quarter. Signaturefd LLC raised its stake in shares of Madrigal Pharmaceuticals by 36.8% in the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company's stock valued at $41,000 after acquiring an additional 39 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Madrigal Pharmaceuticals by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company's stock valued at $486,000 after acquiring an additional 40 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Madrigal Pharmaceuticals by 47.6% in the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 68 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock valued at $700,000 after acquiring an additional 87 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.