Equities Analysts Issue Forecasts for Madrigal Pharmaceuticals Inc’s Q2 2019 Earnings (MDGL)

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) – Analysts at Oppenheimer issued their Q2 2019 earnings per share estimates for Madrigal Pharmaceuticals in a research report issued on Sunday, November 18th. Oppenheimer analyst J. Olson forecasts that the biopharmaceutical company will post earnings per share of ($0.51) for the quarter. Oppenheimer currently has a “Outperform” rating and a $200.00 target price on the stock. Oppenheimer also issued estimates for Madrigal Pharmaceuticals’ Q3 2019 earnings at ($0.58) EPS, FY2021 earnings at ($5.44) EPS and FY2022 earnings at ($1.51) EPS.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.03).

Several other equities research analysts also recently commented on MDGL. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 17th. Raymond James downgraded shares of Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a research note on Monday. Evercore ISI upgraded shares of Madrigal Pharmaceuticals from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $222.00 to $250.00 in a research report on Friday, November 16th. Citigroup began coverage on shares of Madrigal Pharmaceuticals in a research report on Tuesday, September 4th. They set a “buy” rating and a $340.00 target price for the company. Finally, Goldman Sachs Group downgraded shares of Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 target price for the company. in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $297.63.

NASDAQ:MDGL opened at $117.99 on Wednesday. Madrigal Pharmaceuticals has a 12 month low of $42.48 and a 12 month high of $325.98. The firm has a market cap of $1.75 billion, a PE ratio of -46.45 and a beta of 1.56.

Several institutional investors have recently modified their holdings of the business. Capital Research Global Investors raised its position in shares of Madrigal Pharmaceuticals by 21.5% in the third quarter. Capital Research Global Investors now owns 1,664,452 shares of the biopharmaceutical company’s stock worth $356,409,000 after acquiring an additional 294,200 shares during the period. Baker BROS. Advisors LP raised its position in shares of Madrigal Pharmaceuticals by 89.9% in the second quarter. Baker BROS. Advisors LP now owns 1,169,278 shares of the biopharmaceutical company’s stock worth $327,035,000 after acquiring an additional 553,594 shares during the period. BlackRock Inc. raised its position in shares of Madrigal Pharmaceuticals by 17.7% in the third quarter. BlackRock Inc. now owns 575,019 shares of the biopharmaceutical company’s stock worth $123,130,000 after acquiring an additional 86,520 shares during the period. HealthCor Management L.P. raised its position in shares of Madrigal Pharmaceuticals by 33.2% in the third quarter. HealthCor Management L.P. now owns 262,860 shares of the biopharmaceutical company’s stock worth $56,286,000 after acquiring an additional 65,579 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Madrigal Pharmaceuticals by 38.1% in the third quarter. Jennison Associates LLC now owns 223,371 shares of the biopharmaceutical company’s stock worth $47,830,000 after acquiring an additional 61,586 shares during the period. Institutional investors and hedge funds own 54.29% of the company’s stock.

In other Madrigal Pharmaceuticals news, CEO Paul A. Friedman bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average cost of $124.00 per share, for a total transaction of $496,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fred B. Craves bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were acquired at an average price of $124.69 per share, with a total value of $249,380.00. The disclosure for this purchase can be found here. Insiders own 56.70% of the company’s stock.

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

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