B. Riley Has Positive Estimate for MDGL FY2024 Earnings

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) – Analysts at B. Riley boosted their FY2024 earnings estimates for Madrigal Pharmaceuticals in a report issued on Monday, November 4th. B. Riley analyst M. Mamtani now expects that the biopharmaceutical company will earn ($23.09) per share for the year, up from their prior forecast of ($27.70). B. Riley 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.

A number of other analysts have also recently commented on MDGL. HC Wainwright reaffirmed a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Madrigal Pharmaceuticals in a report on Friday, October 11th. 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. JMP Securities raised their price objective on Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. Finally, Citigroup cut their price objective on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Price Performance

NASDAQ MDGL opened at $338.22 on Thursday. The company has a 50-day moving average price of $232.32 and a 200-day moving average price of $245.11. Madrigal Pharmaceuticals has a 52 week low of $133.99 and a 52 week high of $345.04. 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 market capitalization of $7.38 billion, a P/E ratio of -13.49 and a beta of -0.46.

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

Insider Buying and Selling at Madrigal Pharmaceuticals

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

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings in Madrigal Pharmaceuticals by 1,633.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 98 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Madrigal Pharmaceuticals in the first quarter valued at about $41,000. Signaturefd LLC lifted its stake in Madrigal Pharmaceuticals by 36.8% in 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. Nisa Investment Advisors LLC grew its holdings in Madrigal Pharmaceuticals by 47.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 211 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 68 shares in the last quarter. Finally, Quest Partners LLC increased its position in Madrigal Pharmaceuticals by 5,225.0% during the 2nd quarter. Quest Partners LLC now owns 213 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 209 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.