MeiraGTx Holdings PLC (NASDAQ:MGTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $26.00.

A number of research analysts have issued reports on MGTX shares. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of MeiraGTx in a research note on Wednesday, July 8th. Chardan Capital reiterated a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a research note on Friday, March 27th. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Royal Bank Of Canada upped their target price on MeiraGTx from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, Piper Sandler raised their target price on MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd.

Insider Buying and Selling at MeiraGTx

In other news, CFO Richard Giroux sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.22, for a total value of $572,320.00. Following the completion of the transaction, the chief financial officer directly owned 971,530 shares in the company, valued at $9,929,036.60. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alexandria Forbes sold 62,000 shares of MeiraGTx stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the sale, the chief executive officer directly owned 1,387,695 shares of the company’s stock, valued at $12,725,163.15. This trade represents a 4.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 145,659 shares of company stock worth $1,550,213. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MeiraGTx

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of MeiraGTx by 43.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after acquiring an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after acquiring an additional 7,005 shares during the period. ProShare Advisors LLC purchased a new position in shares of MeiraGTx during the fourth quarter worth $94,000. Abel Hall LLC purchased a new position in shares of MeiraGTx during the fourth quarter worth $98,000. Finally, Bank of Nova Scotia acquired a new position in MeiraGTx during the first quarter valued at $105,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX opened at $12.44 on Friday. The company has a market cap of $1.15 billion, a PE ratio of -8.41 and a beta of 1.20. The business has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $9.16. MeiraGTx has a fifty-two week low of $6.62 and a fifty-two week high of $15.35.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. On average, sell-side analysts predict that MeiraGTx will post -1.53 earnings per share for the current fiscal year.

About MeiraGTx

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.