Equities Analysts Set Expectations for MDGL FY2024 Earnings

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) – Stock analysts at Leerink Partnrs increased their FY2024 earnings estimates for shares of Madrigal Pharmaceuticals in a research note issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now expects that the biopharmaceutical company will post earnings of ($22.71) per share for the year, up from their prior forecast of ($23.33). The consensus estimate for Madrigal Pharmaceuticals’ current full-year earnings is ($23.64) per share. Leerink Partnrs also issued estimates for Madrigal Pharmaceuticals’ Q4 2024 earnings at ($3.77) EPS, FY2025 earnings at ($11.19) EPS, FY2027 earnings at $18.81 EPS, FY2028 earnings at $32.73 EPS and FY2029 earnings at $51.49 EPS.

A number of other research firms have also weighed in on MDGL. Oppenheimer reduced their target price on Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. B. Riley boosted their price objective on shares of Madrigal Pharmaceuticals from $194.00 to $236.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright increased their target price on shares of Madrigal Pharmaceuticals from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. UBS Group boosted their price target on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $427.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $351.67.

Madrigal Pharmaceuticals Price Performance

Shares of NASDAQ MDGL opened at $337.56 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.93 and a current ratio of 5.98. Madrigal Pharmaceuticals has a fifty-two week low of $189.00 and a fifty-two week high of $368.29. The stock has a market cap of $7.36 billion, a PE ratio of -13.46 and a beta of -0.38. The stock has a fifty day moving average of $314.48 and a 200-day moving average of $277.29.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MDGL. William Blair Investment Management LLC purchased a new position in Madrigal Pharmaceuticals in the 4th quarter worth approximately $114,717,000. Cibc World Markets Corp bought a new position in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $519,000. Wintrust Investments LLC increased its stake in shares of Madrigal Pharmaceuticals by 86.8% in the fourth quarter. Wintrust Investments LLC now owns 1,937 shares of the biopharmaceutical company’s stock worth $597,000 after buying an additional 900 shares during the period. Swiss National Bank raised its holdings in Madrigal Pharmaceuticals by 2.4% during the 4th quarter. Swiss National Bank now owns 25,600 shares of the biopharmaceutical company’s stock valued at $7,899,000 after buying an additional 600 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Madrigal Pharmaceuticals by 43.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,288 shares of the biopharmaceutical company’s stock valued at $31,872,000 after buying an additional 31,205 shares during the period. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,584 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $335.24, for a total value of $531,020.16. Following the completion of the sale, the chief executive officer now owns 54,303 shares of the company’s stock, valued at approximately $18,204,537.72. This represents a 2.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert E. Waltermire sold 442 shares of Madrigal Pharmaceuticals stock in a transaction on Friday, January 17th. The stock was sold at an average price of $273.41, for a total transaction of $120,847.22. Following the completion of the transaction, the vice president now owns 5,058 shares in the company, valued at approximately $1,382,907.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,090 shares of company stock worth $3,883,621 over the last 90 days. Corporate insiders own 22.80% of the company’s stock.

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.