Q2 2019 EPS Estimates for Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) Reduced by Analyst

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) – Equities research analysts at B. Riley dropped their Q2 2019 earnings per share estimates for shares of Madrigal Pharmaceuticals in a research note issued on Monday, June 10th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings of ($1.03) per share for the quarter, down from their previous forecast of ($0.88). B. Riley has a “Buy” rating and a $128.00 price objective on the stock. B. Riley also issued estimates for Madrigal Pharmaceuticals’ Q3 2019 earnings at ($1.11) EPS, Q4 2019 earnings at ($1.19) EPS, FY2019 earnings at ($4.21) EPS, FY2020 earnings at ($6.30) EPS, FY2021 earnings at ($7.91) EPS, FY2022 earnings at ($7.88) EPS and FY2023 earnings at ($6.79) EPS.

MDGL has been the subject of several other reports. Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a report on Wednesday, April 17th. UBS Group raised their price objective on shares of Madrigal Pharmaceuticals to $143.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Zacks Investment Research downgraded shares of Madrigal Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BidaskClub downgraded shares of Madrigal Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Finally, ValuEngine raised shares of Madrigal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $194.11.



MDGL opened at $99.00 on Wednesday. The company has a market capitalization of $1.53 billion, a P/E ratio of -44.59 and a beta of 1.18. Madrigal Pharmaceuticals has a 12 month low of $89.83 and a 12 month high of $322.00.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.98) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.02. During the same quarter in the prior year, the company earned ($0.45) earnings per share.

Large investors have recently made changes to their positions in the business. Columbus Circle Investors boosted its holdings in Madrigal Pharmaceuticals by 112.5% in the 4th quarter. Columbus Circle Investors now owns 55,895 shares of the biopharmaceutical company’s stock valued at $6,300,000 after purchasing an additional 29,587 shares during the period. Emory University boosted its holdings in Madrigal Pharmaceuticals by 49.6% in the 4th quarter. Emory University now owns 17,038 shares of the biopharmaceutical company’s stock valued at $1,921,000 after purchasing an additional 5,647 shares during the period. Capital Impact Advisors LLC boosted its holdings in Madrigal Pharmaceuticals by 89.7% in the 4th quarter. Capital Impact Advisors LLC now owns 13,659 shares of the biopharmaceutical company’s stock valued at $1,427,000 after purchasing an additional 6,458 shares during the period. Highbridge Capital Management LLC boosted its holdings in Madrigal Pharmaceuticals by 37.5% in the 4th quarter. Highbridge Capital Management LLC now owns 13,750 shares of the biopharmaceutical company’s stock valued at $1,550,000 after purchasing an additional 3,750 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Madrigal Pharmaceuticals by 10.7% in the 1st quarter. Jennison Associates LLC now owns 311,020 shares of the biopharmaceutical company’s stock valued at $38,958,000 after purchasing an additional 29,949 shares during the period. 60.89% 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 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: How does equity income fit into an investing strategy?

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

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.