Wall Street brokerages predict that Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) will post ($3.78) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Madrigal Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($4.32) and the highest estimate coming in at ($2.71). Madrigal Pharmaceuticals posted earnings of ($2.34) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 61.5%. The business is scheduled to issue its next earnings report on Thursday, May 6th.

According to Zacks, analysts expect that Madrigal Pharmaceuticals will report full-year earnings of ($15.79) per share for the current financial year, with EPS estimates ranging from ($17.52) to ($14.58). For the next year, analysts forecast that the firm will post earnings of ($14.74) per share, with EPS estimates ranging from ($19.65) to ($6.06). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Madrigal Pharmaceuticals.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last issued its earnings results on Thursday, February 25th. The biopharmaceutical company reported ($3.82) EPS for the quarter, topping analysts’ consensus estimates of ($3.98) by $0.16.

MDGL has been the subject of a number of research reports. Oppenheimer reduced their price target on shares of Madrigal Pharmaceuticals from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Tuesday, March 2nd. Zacks Investment Research cut shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, March 2nd. Finally, Chardan Capital boosted their price target on shares of Madrigal Pharmaceuticals from $202.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $164.00.

Large investors have recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of Madrigal Pharmaceuticals by 1.3% in the third quarter. Swiss National Bank now owns 22,700 shares of the biopharmaceutical company’s stock valued at $2,695,000 after buying an additional 300 shares during the last quarter. Credit Suisse AG increased its stake in shares of Madrigal Pharmaceuticals by 46.2% during the fourth quarter. Credit Suisse AG now owns 14,992 shares of the biopharmaceutical company’s stock worth $1,667,000 after acquiring an additional 4,739 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Madrigal Pharmaceuticals by 37.6% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,225,000 shares of the biopharmaceutical company’s stock worth $136,183,000 after acquiring an additional 335,000 shares during the period. Liberty One Investment Management LLC increased its stake in shares of Madrigal Pharmaceuticals by 53.3% during the fourth quarter. Liberty One Investment Management LLC now owns 667 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 232 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Madrigal Pharmaceuticals by 59.0% during the third quarter. Squarepoint Ops LLC now owns 4,753 shares of the biopharmaceutical company’s stock worth $564,000 after acquiring an additional 1,763 shares during the period. 74.24% of the stock is owned by institutional investors and hedge funds.

MDGL traded up $2.45 on Friday, reaching $117.36. The company had a trading volume of 1,022 shares, compared to its average volume of 186,567. Madrigal Pharmaceuticals has a 1 year low of $63.25 and a 1 year high of $137.28. The stock has a market capitalization of $1.88 billion, a PE ratio of -10.38 and a beta of 1.19. The stock has a 50-day moving average price of $117.92 and a 200-day moving average price of $119.44.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc engages on the development and commercialization of innovative therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. Its lead product, MGL-3196, is used for the treatment of non-alcoholic steatohepatitis and familial hypercholesterolemia.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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

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