FY2028 Earnings Forecast for MDGL Issued By Leerink Partnrs

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Investment analysts at Leerink Partnrs upped their FY2028 earnings per share estimates for shares of Madrigal Pharmaceuticals in a research note issued to investors on Thursday, October 31st. Leerink Partnrs analyst T. Smith now anticipates that the biopharmaceutical company will earn $38.76 per share for the year, up from their previous estimate of $38.44. The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($27.27) per share.

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

Several other analysts have also recently issued reports on the company. Citigroup cut their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. HC Wainwright reaffirmed a "buy" rating and issued a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Evercore ISI cut their target price on shares of Madrigal Pharmaceuticals from $405.00 to $360.00 and set an "outperform" rating for the company in a research note 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 note on Friday. Finally, Oppenheimer lowered 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 report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Madrigal Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $344.33.

Madrigal Pharmaceuticals Stock Up 3.7 %

MDGL stock traded up $11.74 during midday trading on Monday, hitting $331.32. 1,041,133 shares of the company's stock were exchanged, compared to its average volume of 439,510. The company has a current ratio of 8.72, a quick ratio of 8.67 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $228.91 and a 200-day moving average price of $243.57. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of -13.21 and a beta of -0.46. Madrigal Pharmaceuticals has a 12-month low of $133.99 and a 12-month high of $337.44.

Insider Buying and Selling

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the sale, the chief executive officer now directly owns 55,887 shares of the company's stock, valued at $13,626,927.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 5.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company's stock valued at $575,884,000 after purchasing an additional 111,111 shares during the last quarter. Paulson & CO. Inc. increased its holdings in Madrigal Pharmaceuticals by 4.2% in the 2nd quarter. Paulson & CO. Inc. now owns 1,850,000 shares of the biopharmaceutical company's stock valued at $518,296,000 after buying an additional 75,000 shares during the period. Vanguard Group Inc. lifted its stake in Madrigal Pharmaceuticals by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company's stock worth $445,638,000 after purchasing an additional 94,064 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Madrigal Pharmaceuticals by 106.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,213 shares of the biopharmaceutical company's stock valued at $214,491,000 after buying an additional 414,484 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Madrigal Pharmaceuticals in the 2nd quarter valued at approximately $32,335,000. 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.