What is Leerink Partnrs' Estimate for MDGL FY2024 Earnings?

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for shares of Madrigal Pharmaceuticals in a note issued to investors on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now expects that the biopharmaceutical company will post earnings of ($22.71) per share for the year, up from their prior estimate of ($23.33). The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($23.64) per share. Leerink Partnrs also issued estimates for Madrigal Pharmaceuticals' Q4 2024 earnings at ($3.77) EPS, FY2025 earnings at ($11.19) EPS, FY2027 earnings at $18.81 EPS, FY2028 earnings at $32.73 EPS and FY2029 earnings at $51.49 EPS.

Several other research firms have also commented on MDGL. HC Wainwright upped their price target on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. B. Riley increased their target price on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. JMP Securities reissued a "market outperform" rating and issued a $427.00 target price on shares of Madrigal Pharmaceuticals in a report on Friday, January 10th. Cantor Fitzgerald reissued a "neutral" rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, November 20th. Finally, UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $351.67.

Madrigal Pharmaceuticals Stock Performance

Shares of NASDAQ MDGL traded up $11.54 during midday trading on Monday, hitting $351.71. 227,211 shares of the company's stock traded hands, compared to its average volume of 431,635. Madrigal Pharmaceuticals has a 1 year low of $189.00 and a 1 year high of $368.29. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -14.02 and a beta of -0.38. 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 firm has a fifty day moving average of $315.51 and a 200 day moving average of $278.44.

Insider Buying and Selling at Madrigal Pharmaceuticals

In related news, CMO Rebecca Taub sold 1,689 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $461,789.49. Following the completion of the sale, the chief marketing officer now owns 457,310 shares of the company's stock, valued at $125,033,127.10. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fred B. Craves sold 3,400 shares of Madrigal Pharmaceuticals stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $350.30, for a total value of $1,191,020.00. Following the sale, the director now directly owns 14,600 shares of the company's stock, valued at $5,114,380. This trade represents a 18.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,090 shares of company stock worth $3,883,621 over the last quarter. Insiders own 22.80% of the company's stock.

Institutional Trading of Madrigal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in MDGL. Truist Financial Corp purchased a new stake in shares of Madrigal Pharmaceuticals during the second quarter worth approximately $216,000. Sanctuary Advisors LLC acquired a new position in Madrigal Pharmaceuticals during the second quarter worth $294,000. SG Americas Securities LLC acquired a new position in Madrigal Pharmaceuticals during the third quarter worth $414,000. Creative Planning boosted its stake in Madrigal Pharmaceuticals by 2.7% during the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company's stock worth $700,000 after buying an additional 87 shares during the last quarter. Finally, Cavalier Investments LLC acquired a new position in Madrigal Pharmaceuticals during the third quarter worth $773,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.