B. Riley Research Analysts Boost Earnings Estimates for MDGL

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) – B. Riley boosted their FY2024 earnings estimates for shares of Madrigal Pharmaceuticals in a research report issued on Monday, November 4th. B. Riley analyst M. Mamtani now expects that the biopharmaceutical company will post earnings per share of ($23.09) for the year, up from their previous forecast of ($27.70). B. Riley currently has a “Neutral” rating and a $236.00 price target on the stock. The consensus estimate for Madrigal Pharmaceuticals’ current full-year earnings is ($25.19) per share. B. Riley also issued estimates for Madrigal Pharmaceuticals’ Q4 2024 earnings at ($3.86) EPS, Q2 2025 earnings at ($3.09) EPS, FY2025 earnings at ($11.72) EPS, FY2026 earnings at $15.22 EPS and FY2027 earnings at $32.42 EPS.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.94) by $2.02. The company had revenue of $62.18 million for the quarter, compared to analysts’ expectations of $34.60 million. During the same quarter in the previous year, the firm posted ($5.34) EPS.

Other equities analysts have also recently issued research reports about the stock. UBS Group upped their target price on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, November 1st. HC Wainwright restated a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research note on Tuesday, October 22nd. Citigroup decreased their price target on shares of Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI decreased their target price on Madrigal Pharmaceuticals from $405.00 to $360.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Oppenheimer cut their price target on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Madrigal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Price Performance

Shares of MDGL opened at $354.85 on Thursday. The company has a market capitalization of $7.74 billion, a P/E ratio of -14.15 and a beta of -0.46. Madrigal Pharmaceuticals has a twelve month low of $133.99 and a twelve month high of $368.29. The company has a quick ratio of 5.93, a current ratio of 5.98 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $234.44 and a 200 day moving average of $245.87.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently made changes to their positions in MDGL. Oppenheimer Asset Management Inc. lifted its stake in Madrigal Pharmaceuticals by 2.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,507 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 31 shares during the period. Signaturefd LLC grew its holdings in Madrigal Pharmaceuticals by 36.8% during the second quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 39 shares during the period. Victory Capital Management Inc. grew its holdings in Madrigal Pharmaceuticals by 1.8% during the third quarter. Victory Capital Management Inc. now owns 2,292 shares of the biopharmaceutical company’s stock worth $486,000 after acquiring an additional 40 shares during the period. Nisa Investment Advisors LLC raised its position in Madrigal Pharmaceuticals by 47.6% during the third quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 68 shares in the last quarter. Finally, Creative Planning lifted its holdings in Madrigal Pharmaceuticals by 2.7% in the third quarter. Creative Planning now owns 3,299 shares of the biopharmaceutical company’s stock valued at $700,000 after acquiring an additional 87 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Madrigal Pharmaceuticals

In related news, Director Richard S. Levy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the sale, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William John Sibold sold 6,363 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $243.83, for a total value of $1,551,490.29. Following the transaction, the chief executive officer now directly owns 55,887 shares in the company, valued at $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.80% of the stock is owned by company insiders.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.