MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

MeiraGTx Holdings PLC (NASDAQ:MGTX) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $26.00.

Several analysts recently commented on MGTX shares. Royal Bank Of Canada lifted their target price on shares of MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. HC Wainwright started coverage on MeiraGTx in a report on Monday, November 24th. They set a “buy” rating and a $20.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a research report on Tuesday, November 11th. Wall Street Zen cut MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Raymond James Financial started coverage on MeiraGTx in a research note on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price target for the company.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX opened at $8.65 on Friday. MeiraGTx has a 12 month low of $4.55 and a 12 month high of $9.73. The stock has a 50 day moving average of $8.32 and a 200-day moving average of $7.63. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. The company has a market capitalization of $696.24 million, a P/E ratio of -4.10 and a beta of 1.38.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.12). MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%.The company had revenue of $0.41 million for the quarter, compared to the consensus estimate of $7.71 million. As a group, equities research analysts predict that MeiraGTx will post -1.48 EPS for the current year.

Insider Transactions at MeiraGTx

In related news, CFO Richard Giroux sold 24,000 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $8.87, for a total value of $212,880.00. Following the transaction, the chief financial officer directly owned 829,494 shares in the company, valued at approximately $7,357,611.78. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alexandria Forbes sold 47,500 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $8.39, for a total transaction of $398,525.00. Following the transaction, the chief executive officer directly owned 1,313,983 shares in the company, valued at approximately $11,024,317.37. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Several institutional investors have recently made changes to their positions in MGTX. Perceptive Advisors LLC increased its position in MeiraGTx by 0.4% in the 2nd quarter. Perceptive Advisors LLC now owns 12,626,103 shares of the company’s stock valued at $82,231,000 after acquiring an additional 45,000 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of MeiraGTx by 7.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock worth $39,345,000 after purchasing an additional 400,000 shares during the last quarter. Rubric Capital Management LP increased its holdings in MeiraGTx by 109.8% in the second quarter. Rubric Capital Management LP now owns 3,726,451 shares of the company’s stock valued at $24,296,000 after purchasing an additional 1,950,130 shares during the period. 683 Capital Management LLC raised its position in MeiraGTx by 4.5% during the 2nd quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company’s stock worth $17,539,000 after purchasing an additional 115,000 shares during the last quarter. Finally, Erste Asset Management GmbH raised its position in MeiraGTx by 17.9% during the 1st quarter. Erste Asset Management GmbH now owns 789,702 shares of the company’s stock worth $5,366,000 after purchasing an additional 120,000 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Company Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.