Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) – Stock analysts at Svb Leerink cut their Q1 2019 earnings estimates for Madrigal Pharmaceuticals in a research note issued to investors on Monday, March 11th. Svb Leerink analyst P. Sarraf now anticipates that the biopharmaceutical company will post earnings of ($0.90) per share for the quarter, down from their prior estimate of ($0.87). Svb Leerink has a “Outperform” rating and a $165.00 price target on the stock. Svb Leerink also issued estimates for Madrigal Pharmaceuticals’ Q2 2019 earnings at ($1.03) EPS, Q3 2019 earnings at ($1.17) EPS, Q4 2019 earnings at ($1.33) EPS, FY2019 earnings at ($4.44) EPS, Q1 2020 earnings at ($1.17) EPS, Q2 2020 earnings at ($1.24) EPS, Q3 2020 earnings at ($1.36) EPS, Q4 2020 earnings at ($1.40) EPS, FY2020 earnings at ($5.22) EPS, FY2021 earnings at ($6.39) EPS, FY2022 earnings at ($8.06) EPS and FY2023 earnings at ($4.31) EPS.
MDGL has been the subject of a number of other research reports. ValuEngine downgraded shares of Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating and set a $133.00 price objective for the company in a report on Wednesday, January 9th. Evercore ISI upgraded shares of Madrigal Pharmaceuticals from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $222.00 to $250.00 in a report on Friday, November 16th. HC Wainwright reiterated a “buy” rating and issued a $313.00 price objective on shares of Madrigal Pharmaceuticals in a report on Wednesday, December 12th. Finally, UBS Group initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Wednesday, January 23rd. They issued a “neutral” rating and a $119.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $221.18.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.01). During the same quarter in the prior year, the business posted ($0.67) EPS.
Several institutional investors have recently bought and sold shares of MDGL. Pearl River Capital LLC purchased a new stake in shares of Madrigal Pharmaceuticals in the 4th quarter valued at approximately $29,000. First Mercantile Trust Co. grew its stake in shares of Madrigal Pharmaceuticals by 52.2% in the 4th quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 214 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $90,000. Great West Life Assurance Co. Can boosted its position in shares of Madrigal Pharmaceuticals by 59.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 366 shares during the period. Finally, Bessemer Group Inc. purchased a new position in shares of Madrigal Pharmaceuticals during the 4th quarter worth approximately $116,000. 59.06% of the stock is owned by institutional investors and hedge funds.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.
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