Madrigal Pharmaceuticals Inc Expected to Post Q2 2019 Earnings of ($1.03) Per Share (NASDAQ:MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) – Investment analysts at B. Riley reduced their Q2 2019 earnings estimates for shares of Madrigal Pharmaceuticals in a note issued to investors on Monday, June 10th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will earn ($1.03) per share for the quarter, down from their prior forecast of ($0.88). B. Riley currently has a “Buy” rating and a $128.00 price target on the stock. B. Riley also issued estimates for Madrigal Pharmaceuticals’ Q3 2019 earnings at ($1.11) EPS, Q4 2019 earnings at ($1.19) EPS, FY2019 earnings at ($4.21) EPS, FY2020 earnings at ($6.30) EPS, FY2021 earnings at ($7.91) EPS, FY2022 earnings at ($7.88) EPS and FY2023 earnings at ($6.79) EPS.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Madrigal Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. HC Wainwright reissued a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 9th. Citigroup lowered their price target on Madrigal Pharmaceuticals from $200.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. ValuEngine downgraded Madrigal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Finally, Svb Leerink assumed coverage on Madrigal Pharmaceuticals in a research report on Friday, February 22nd. They set an “outperform” rating and a $165.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. Madrigal Pharmaceuticals presently has an average rating of “Buy” and an average target price of $194.11.

Shares of NASDAQ MDGL opened at $98.67 on Wednesday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -44.45 and a beta of 1.18. Madrigal Pharmaceuticals has a twelve month low of $89.83 and a twelve month high of $322.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.02. During the same period last year, the company posted ($0.45) EPS.

Several large investors have recently modified their holdings of MDGL. Pearl River Capital LLC bought a new stake in shares of Madrigal Pharmaceuticals during the fourth quarter worth approximately $29,000. First Mercantile Trust Co. boosted its holdings in shares of Madrigal Pharmaceuticals by 52.2% during the fourth quarter. First Mercantile Trust Co. now owns 624 shares of the biopharmaceutical company’s stock worth $70,000 after acquiring an additional 214 shares during the period. Advisor Group Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 19.3% during the first quarter. Advisor Group Inc. now owns 656 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 106 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Madrigal Pharmaceuticals by 59.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 985 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 366 shares during the period. Finally, Quantamental Technologies LLC boosted its holdings in shares of Madrigal Pharmaceuticals by 11.6% during the first quarter. Quantamental Technologies LLC now owns 893 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 93 shares during the period. Institutional investors own 60.89% of the company’s stock.

Madrigal Pharmaceuticals Company Profile

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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Earnings History and Estimates for Madrigal Pharmaceuticals (NASDAQ:MDGL)

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