MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Consensus Rating of “Moderate Buy” from Analysts

MeiraGTx Holdings PLC (NASDAQ:MGTX) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $25.8333.

Several research firms recently commented on MGTX. Chardan Capital reaffirmed a “buy” rating and set a $35.00 target price on shares of MeiraGTx in a research note on Friday, March 27th. Royal Bank Of Canada raised their target price on MeiraGTx from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating on shares of MeiraGTx in a research note on Tuesday. Finally, Wall Street Zen raised MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th.

MeiraGTx News Summary

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: HC Wainwright raised MeiraGTx’s earnings estimates for several upcoming quarters and years, signaling better expected profitability ahead. Source article
• Positive Sentiment: The firm kept a Buy rating on MeiraGTx, reinforcing a constructive outlook from Wall Street. Source article
• Neutral Sentiment: Short interest data showed 0 shares reported, which does not provide a meaningful trading signal. Source article

Insider Buying and Selling

In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the completion of the sale, the chief executive officer owned 1,387,695 shares of the company’s stock, valued at approximately $12,725,163.15. This trade represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,661 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total value of $258,906.96. Following the completion of the sale, the insider directly owned 668,505 shares of the company’s stock, valued at $6,257,206.80. This trade represents a 3.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 207,661 shares of company stock valued at $1,859,187 over the last 90 days. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. grew its stake in MeiraGTx by 183.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company’s stock valued at $2,453,000 after acquiring an additional 199,528 shares during the period. Jefferies Financial Group Inc. acquired a new stake in MeiraGTx in the fourth quarter valued at approximately $2,371,000. Erste Asset Management GmbH grew its stake in MeiraGTx by 11.3% in the fourth quarter. Erste Asset Management GmbH now owns 789,702 shares of the company’s stock valued at $6,275,000 after acquiring an additional 80,000 shares during the period. ProShare Advisors LLC acquired a new stake in MeiraGTx in the fourth quarter valued at approximately $94,000. Finally, Royce & Associates LP acquired a new stake in MeiraGTx in the fourth quarter valued at approximately $1,400,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

MeiraGTx Price Performance

NASDAQ MGTX opened at $10.66 on Friday. The business has a 50 day simple moving average of $9.30 and a 200 day simple moving average of $8.34. MeiraGTx has a one year low of $5.02 and a one year high of $11.85. The stock has a market capitalization of $986.76 million, a P/E ratio of -7.20 and a beta of 1.23.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, May 14th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.04. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 151.12%.The business had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $17.00 million. Equities analysts expect that MeiraGTx will post -1.55 earnings per share for the current year.

MeiraGTx Company Profile

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx’s pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company’s lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.