Brokerages Anticipate Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Will Announce Earnings of -$1.08 Per Share

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Brokerages expect Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) to announce earnings per share (EPS) of ($1.08) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Madrigal Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($1.27) and the highest estimate coming in at ($1.00). Madrigal Pharmaceuticals reported earnings per share of ($0.45) in the same quarter last year, which suggests a negative year over year growth rate of 140%. The business is expected to announce its next earnings report on Tuesday, August 6th.

On average, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($4.53) per share for the current fiscal year, with EPS estimates ranging from ($5.56) to ($4.05). For the next fiscal year, analysts expect that the firm will post earnings of ($5.55) per share, with EPS estimates ranging from ($6.68) to ($4.73). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.00) by $0.02. During the same quarter in the prior year, the firm earned ($0.45) EPS.

MDGL has been the subject of a number of research reports. Citigroup raised their target price on shares of Cyberark Software from $111.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Stifel Nicolaus initiated coverage on shares of Madrigal Pharmaceuticals in a report on Monday, June 24th. They set a “hold” rating and a $126.00 target price for the company. UBS Group set a $180.00 target price on shares of Accenture and gave the stock a “hold” rating in a report on Thursday, March 28th. HC Wainwright set a $51.00 target price on shares of Amarin and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Zacks Investment Research cut shares of Gold Resource from a “hold” rating to a “sell” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $187.00.

Several large investors have recently modified their holdings of the stock. Capital Impact Advisors LLC lifted its position in shares of Madrigal Pharmaceuticals by 32.9% in the 2nd quarter. Capital Impact Advisors LLC now owns 18,148 shares of the biopharmaceutical company’s stock valued at $1,823,000 after acquiring an additional 4,489 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $17,699,000. Marshall Wace LLP purchased a new stake in shares of Madrigal Pharmaceuticals in the 1st quarter valued at approximately $2,563,000. Resources Investment Advisors Inc. purchased a new stake in Madrigal Pharmaceuticals in the 1st quarter worth approximately $121,000. Finally, Jennison Associates LLC lifted its position in Madrigal Pharmaceuticals by 10.7% in the 1st quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock worth $38,958,000 after buying an additional 29,949 shares in the last quarter. Institutional investors and hedge funds own 60.87% of the company’s stock.

NASDAQ:MDGL traded down $2.05 during trading hours on Wednesday, reaching $89.76. 4,082 shares of the company’s stock were exchanged, compared to its average volume of 138,361. The stock has a market cap of $1.42 billion, a P/E ratio of -40.28 and a beta of 1.21. Madrigal Pharmaceuticals has a 12 month low of $89.83 and a 12 month high of $292.29. The stock has a 50-day moving average price of $99.70.

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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