Q2 2019 Earnings Forecast for Madrigal Pharmaceuticals Inc (MDGL) Issued By Oppenheimer
Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) – Oppenheimer issued their Q2 2019 EPS estimates for Madrigal Pharmaceuticals in a research note issued to investors on Sunday, November 18th. Oppenheimer analyst J. Olson expects that the biopharmaceutical company will post earnings of ($0.51) per share for the quarter. Oppenheimer has a “Outperform” rating and a $200.00 price objective 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.
A number of other equities research analysts have also weighed in on MDGL. BidaskClub lowered shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, November 17th. Raymond James lowered shares of Madrigal Pharmaceuticals from a “market perform” rating to an “underperform” rating in a report on Monday. Evercore ISI upgraded shares of Madrigal Pharmaceuticals from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $222.00 to $250.00 in a report on Friday, November 16th. Citigroup began coverage on shares of Madrigal Pharmaceuticals in a report on Tuesday, September 4th. They issued a “buy” rating and a $340.00 price objective on the stock. Finally, Goldman Sachs Group lowered shares of Madrigal Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $314.00 price objective on the stock. in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $297.63.
Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.03).
Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in Madrigal Pharmaceuticals by 9.1% in the first quarter. California State Teachers Retirement System now owns 7,199 shares of the biopharmaceutical company’s stock worth $841,000 after buying an additional 599 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in Madrigal Pharmaceuticals in the 2nd quarter worth $364,000. Bank of Montreal Can raised its holdings in Madrigal Pharmaceuticals by 136.8% in the 2nd quarter. Bank of Montreal Can now owns 2,841 shares of the biopharmaceutical company’s stock worth $794,000 after purchasing an additional 1,641 shares during the period. Amalgamated Bank bought a new position in Madrigal Pharmaceuticals in the 2nd quarter worth $248,000. Finally, Fred Alger Management Inc. raised its holdings in Madrigal Pharmaceuticals by 67.0% in the 2nd quarter. Fred Alger Management Inc. now owns 15,028 shares of the biopharmaceutical company’s stock worth $4,203,000 after purchasing an additional 6,028 shares during the period. 54.29% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Fred B. Craves bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $124.69 per share, with a total value of $249,380.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul A. Friedman bought 4,000 shares of the company’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 disclosure for this purchase can be found here. Company insiders own 56.70% 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.
See Also: What is the quiet period?
Receive News & Ratings for Madrigal Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madrigal Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.