What is Leerink Partnrs' Forecast for MDGL FY2028 Earnings?

Key Points

• Leerink Partners has lowered its FY2028 earnings per share estimate for Madrigal Pharmaceuticals from $29.38 to $28.37, while the consensus forecast for the year stands at a loss of $23.47 per share.
• Madrigal Pharmaceuticals reported a quarterly earnings EPS of ($1.90), exceeding expectations by $1.58, with a significant revenue increase of 1357.5% year-over-year.
• Despite a slight drop in share price, Madrigal has received multiple buy ratings from various analysts, maintaining a consensus rating of "Moderate Buy" and a price target averaging around $421.63.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Analysts at Leerink Partnrs reduced their FY2028 earnings estimates for shares of Madrigal Pharmaceuticals in a research note issued to investors on Tuesday, August 5th. Leerink Partnrs analyst T. Smith now forecasts that the biopharmaceutical company will earn $28.37 per share for the year, down from their prior estimate of $29.38. The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($23.47) per share. Leerink Partnrs also issued estimates for Madrigal Pharmaceuticals' FY2029 earnings at $50.04 EPS.

MDGL has been the subject of several other reports. Canaccord Genuity Group lifted their price target on shares of Madrigal Pharmaceuticals from $420.00 to $428.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $443.00 price objective on shares of Madrigal Pharmaceuticals in a research report on Thursday, April 24th. UBS Group increased their target price on shares of Madrigal Pharmaceuticals from $441.00 to $458.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. B. Riley reaffirmed a "buy" rating and issued a $460.00 price objective (up from $422.00) on shares of Madrigal Pharmaceuticals in a report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Madrigal Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $430.43.

Madrigal Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ:MDGL traded up $0.91 during mid-day trading on Thursday, reaching $346.64. 122,385 shares of the company's stock were exchanged, compared to its average volume of 374,471. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -27.02 and a beta of -1.02. The business's fifty day moving average price is $301.66 and its 200-day moving average price is $312.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.78 and a current ratio of 5.11. Madrigal Pharmaceuticals has a twelve month low of $200.63 and a twelve month high of $377.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.90) EPS for the quarter, topping the consensus estimate of ($3.48) by $1.58. Madrigal Pharmaceuticals had a negative net margin of 54.68% and a negative return on equity of 38.38%. The company had revenue of $212.80 million for the quarter, compared to analysts' expectations of $158.94 million. During the same period last year, the firm earned ($7.10) earnings per share. The business's revenue for the quarter was up 1357.5% on a year-over-year basis.

Insider Buying and Selling

In other news, Director Rebecca Taub sold 26,444 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $353.47, for a total value of $9,347,160.68. Following the sale, the director directly owned 461,044 shares in the company, valued at $162,965,222.68. The trade was a 5.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul A. Friedman sold 26,176 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $353.47, for a total transaction of $9,252,430.72. Following the completion of the sale, the director owned 187,164 shares in the company, valued at approximately $66,156,859.08. This trade represents a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 60,377 shares of company stock worth $21,316,969. 21.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in MDGL. Mutual of America Capital Management LLC raised its holdings in shares of Madrigal Pharmaceuticals by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 11,263 shares of the biopharmaceutical company's stock worth $3,731,000 after purchasing an additional 31 shares during the last quarter. Park Avenue Securities LLC boosted its position in Madrigal Pharmaceuticals by 6.6% in the 2nd quarter. Park Avenue Securities LLC now owns 699 shares of the biopharmaceutical company's stock worth $212,000 after purchasing an additional 43 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Madrigal Pharmaceuticals by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 157 shares of the biopharmaceutical company's stock worth $52,000 after purchasing an additional 44 shares in the last quarter. AlphaQuest LLC increased its holdings in Madrigal Pharmaceuticals by 412.5% in the second quarter. AlphaQuest LLC now owns 82 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 66 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Madrigal Pharmaceuticals by 131.4% in the first quarter. GAMMA Investing LLC now owns 118 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 67 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

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.