Leerink Partnrs Comments on Madrigal Pharmaceuticals, Inc.'s Q2 2024 Earnings (NASDAQ:MDGL)

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Analysts at Leerink Partnrs decreased their Q2 2024 earnings estimates for shares of Madrigal Pharmaceuticals in a research note issued on Tuesday, May 7th. Leerink Partnrs analyst T. Smith now forecasts that the biopharmaceutical company will post earnings of ($7.48) per share for the quarter, down from their previous forecast of ($5.83). The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($21.86) per share. Leerink Partnrs also issued estimates for Madrigal Pharmaceuticals' Q3 2024 earnings at ($7.02) EPS, Q4 2024 earnings at ($6.43) EPS, FY2024 earnings at ($28.29) EPS, FY2025 earnings at ($16.78) EPS, FY2026 earnings at $1.96 EPS, FY2027 earnings at $22.45 EPS and FY2028 earnings at $38.06 EPS.

Several other equities analysts also recently issued reports on the company. StockNews.com raised Madrigal Pharmaceuticals to a "sell" rating in a research report on Friday, April 12th. Canaccord Genuity Group upped their target price on Madrigal Pharmaceuticals from $338.00 to $377.00 and gave the company a "buy" rating in a research report on Friday, March 15th. UBS Group increased their price target on shares of Madrigal Pharmaceuticals from $337.00 to $410.00 and gave the stock a "buy" rating in a report on Friday, March 15th. B. Riley decreased their price objective on shares of Madrigal Pharmaceuticals from $270.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday. Finally, HC Wainwright reduced their target price on shares of Madrigal Pharmaceuticals from $425.00 to $390.00 and set a "buy" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $345.09.

Madrigal Pharmaceuticals Stock Performance

Madrigal Pharmaceuticals stock traded down $1.67 during mid-day trading on Friday, reaching $205.25. 234,030 shares of the company traded hands, compared to its average volume of 521,894. Madrigal Pharmaceuticals has a fifty-two week low of $119.76 and a fifty-two week high of $302.68. The firm's fifty day moving average is $239.11 and its two-hundred day moving average is $216.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.38 and a quick ratio of 5.38. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -10.38 and a beta of -0.33.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($7.38) earnings per share for the quarter, missing analysts' consensus estimates of ($6.06) by ($1.32). During the same period last year, the firm posted ($4.23) earnings per share.

Insider Activity

In related news, Director Paul A. Friedman sold 26,270 shares of the company's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $246.19, for a total value of $6,467,411.30. Following the completion of the transaction, the director now owns 185,735 shares of the company's stock, valued at approximately $45,726,099.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Madrigal Pharmaceuticals news, Director Paul A. Friedman sold 26,270 shares of the company's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $246.19, for a total transaction of $6,467,411.30. Following the completion of the transaction, the director now directly owns 185,735 shares in the company, valued at $45,726,099.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Rebecca Taub sold 2,676 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $245.99, for a total transaction of $658,269.24. Following the transaction, the chief marketing officer now directly owns 458,999 shares in the company, valued at $112,909,164.01. The disclosure for this sale can be found here. Insiders have sold 146,496 shares of company stock worth $31,362,420 in the last ninety days. Company insiders own 23.92% of the company's stock.

Institutional Investors Weigh In On Madrigal Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its position in shares of Madrigal Pharmaceuticals by 2.8% in the fourth quarter. Amalgamated Bank now owns 2,119 shares of the biopharmaceutical company's stock valued at $490,000 after acquiring an additional 57 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in Madrigal Pharmaceuticals by 1.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 4,309 shares of the biopharmaceutical company's stock valued at $629,000 after purchasing an additional 74 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Madrigal Pharmaceuticals by 454.5% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in Madrigal Pharmaceuticals by 4.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 3,171 shares of the biopharmaceutical company's stock worth $734,000 after purchasing an additional 124 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Madrigal Pharmaceuticals by 3.3% during the first quarter. Principal Financial Group Inc. now owns 4,002 shares of the biopharmaceutical company's stock worth $1,069,000 after buying an additional 127 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.