Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL – Free Report) – HC Wainwright issued their FY2024 EPS estimates for Madrigal Pharmaceuticals in a report issued on Tuesday, January 14th. HC Wainwright analyst E. Arce expects that the biopharmaceutical company will post earnings of ($22.53) per share for the year. HC Wainwright currently has a “Buy” rating and a $400.00 price target 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.
Several other analysts have also recently weighed in on MDGL. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Wednesday, November 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $427.00 price target on shares of Madrigal Pharmaceuticals in a research note on Friday, January 10th. UBS Group raised their price objective on Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Madrigal Pharmaceuticals to a “sell” rating in a report on Saturday, October 12th. Finally, Oppenheimer lowered their price target on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $351.67.
Madrigal Pharmaceuticals Trading Up 7.6 %
NASDAQ:MDGL opened at $293.64 on Friday. The company has a 50-day moving average price of $314.19 and a 200-day moving average price of $272.68. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of -11.71 and a beta of -0.36. The company has a current ratio of 5.98, a quick ratio of 5.93 and a debt-to-equity ratio of 0.15. Madrigal Pharmaceuticals has a 12 month low of $168.25 and a 12 month high of $368.29.
Madrigal Pharmaceuticals (NASDAQ:MDGL – Get Free Report) last announced its quarterly earnings results 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 business had revenue of $62.18 million during the quarter, compared to analysts’ expectations of $34.60 million. During the same period in the previous year, the business earned ($5.34) EPS.
Insider Buying and Selling at Madrigal Pharmaceuticals
In other news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total transaction of $1,504,700.00. Following the sale, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Rebecca Taub sold 1,689 shares of the business’s stock in a transaction on 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 directly owns 457,310 shares of the company’s stock, valued at approximately $125,033,127.10. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,408 shares of company stock worth $4,489,207 over the last three months. Corporate insiders own 22.80% of the company’s stock.
Institutional Investors Weigh In On Madrigal Pharmaceuticals
Several hedge funds have recently made changes to their positions in MDGL. Erste Asset Management GmbH purchased a new position in Madrigal Pharmaceuticals in the third quarter valued at about $49,749,000. Paulson & CO. Inc. lifted its position in Madrigal Pharmaceuticals by 10.4% during the third quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock worth $433,353,000 after buying an additional 192,000 shares during the period. Braidwell LP acquired a new position in shares of Madrigal Pharmaceuticals in the 3rd quarter valued at $39,010,000. State Street Corp grew its stake in shares of Madrigal Pharmaceuticals by 19.2% during the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock valued at $188,399,000 after buying an additional 143,038 shares during the period. Finally, Avoro Capital Advisors LLC boosted its position in Madrigal Pharmaceuticals by 5.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after purchasing an additional 111,111 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.
About Madrigal Pharmaceuticals
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.
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