What is HC Wainwright's Estimate for MDGL FY2029 Earnings?

Key Points

• HC Wainwright trimmed its FY2029 EPS estimate for Madrigal Pharmaceuticals to $56.42 from $57.69, while keeping a Buy rating and a $620 price target. The firm also projected FY2030 earnings of $93.68 per share.
• Madrigal’s latest quarterly results beat expectations, with EPS of ($3.25) versus the expected ($3.61) and revenue of $311.34 million versus $301.05 million forecast. Revenue jumped 126.8% year over year.
• Analyst sentiment remains broadly positive, with MarketBeat showing a Moderate Buy consensus and an average price target of $682.07. However, insiders sold shares recently, while institutional ownership remains very high at 98.5%.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Free Report) - Stock analysts at HC Wainwright dropped their FY2029 earnings per share estimates for shares of Madrigal Pharmaceuticals in a research note issued on Thursday, May 7th. HC Wainwright analyst A. Fein now forecasts that the biopharmaceutical company will post earnings of $56.42 per share for the year, down from their previous estimate of $57.69. HC Wainwright has a "Buy" rating and a $620.00 price objective on the stock. The consensus estimate for Madrigal Pharmaceuticals' current full-year earnings is ($5.59) per share. HC Wainwright also issued estimates for Madrigal Pharmaceuticals' FY2030 earnings at $93.68 EPS.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($3.25) earnings per share for the quarter, beating the consensus estimate of ($3.61) by $0.36. Madrigal Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 27.32%.The company had revenue of $311.34 million during the quarter, compared to analysts' expectations of $301.05 million. During the same quarter in the prior year, the firm posted ($3.32) earnings per share. The business's quarterly revenue was up 126.8% on a year-over-year basis.

Several other research firms have also issued reports on MDGL. Canaccord Genuity Group lowered their price target on shares of Madrigal Pharmaceuticals from $587.00 to $578.00 and set a "buy" rating for the company in a report on Thursday. Barclays initiated coverage on shares of Madrigal Pharmaceuticals in a research note on Tuesday, January 27th. They issued an "overweight" rating and a $964.00 price objective on the stock. TD Cowen reiterated a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Monday, January 12th. Evercore set a $649.00 target price on shares of Madrigal Pharmaceuticals in a research note on Thursday. Finally, Bank of America cut their price target on shares of Madrigal Pharmaceuticals from $570.00 to $529.00 and set a "neutral" rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $682.07.

Madrigal Pharmaceuticals Price Performance

Madrigal Pharmaceuticals stock opened at $510.04 on Monday. The stock's 50 day moving average is $488.41 and its 200 day moving average is $507.15. Madrigal Pharmaceuticals has a one year low of $265.00 and a one year high of $615.00. The firm has a market cap of $11.76 billion, a P/E ratio of -39.85 and a beta of -1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.50 and a quick ratio of 3.16.

Insider Activity at Madrigal Pharmaceuticals

In other news, CEO William John Sibold sold 1,663 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $431.94, for a total value of $718,316.22. Following the transaction, the chief executive officer owned 161,829 shares in the company, valued at $69,900,418.26. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Shannon T. Kelley sold 360 shares of the firm's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $431.94, for a total value of $155,498.40. Following the transaction, the general counsel owned 12,138 shares in the company, valued at approximately $5,242,887.72. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,098 shares of company stock valued at $2,626,254 over the last three months. 17.60% of the stock is currently owned by company insiders.

Institutional Trading of Madrigal Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Madrigal Pharmaceuticals by 5,381.2% in the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company's stock valued at $185,507,000 after purchasing an additional 397,076 shares during the period. Norges Bank purchased a new position in shares of Madrigal Pharmaceuticals in the 4th quarter worth about $114,368,000. Baker BROS. Advisors LP grew its position in Madrigal Pharmaceuticals by 8.4% during the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company's stock valued at $982,313,000 after buying an additional 165,683 shares during the period. Deutsche Bank AG increased its holdings in Madrigal Pharmaceuticals by 414.5% during the fourth quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company's stock worth $111,873,000 after buying an additional 154,767 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Madrigal Pharmaceuticals by 139.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 244,796 shares of the biopharmaceutical company's stock worth $142,555,000 after acquiring an additional 142,653 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company's pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

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