What is B. Riley’s Forecast for MDGL FY2024 Earnings?

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

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

A number of other equities analysts also recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $390.00 price target on shares of Madrigal Pharmaceuticals in a research report on Tuesday, October 22nd. Citigroup reduced their target price on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Oppenheimer lowered 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. UBS Group upped their price objective on shares of Madrigal Pharmaceuticals from $411.00 to $441.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, JMP Securities lifted their target price on shares of Madrigal Pharmaceuticals from $381.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $347.33.

Madrigal Pharmaceuticals Trading Up 0.2 %

NASDAQ:MDGL opened at $338.22 on Thursday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -13.49 and a beta of -0.46. 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 50 day moving average of $232.32 and a 200 day moving average of $245.11.

Insider Activity

In related news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on 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 in the company, valued at $13,626,927.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Richard S. Levy sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 11,012 shares of the company’s stock, valued at $3,313,951.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction on 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 owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of Madrigal Pharmaceuticals by 1,633.3% in the second quarter. First Horizon Advisors Inc. now owns 104 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 98 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Madrigal Pharmaceuticals in the 1st quarter valued at about $41,000. Signaturefd LLC raised its holdings in Madrigal Pharmaceuticals by 36.8% in the 2nd quarter. Signaturefd LLC now owns 145 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of 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 buying an additional 68 shares during the period. Finally, Quest Partners LLC lifted its position in shares of 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 buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.