MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $25.67 Consensus Price Target from Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.6667.

A number of brokerages have recently commented on MGTX. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Royal Bank Of Canada lifted their price target on shares of MeiraGTx from $16.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Bank of America lifted their price target on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Piper Sandler lifted their price target on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th.

Insider Transactions at MeiraGTx

In related news, CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $572,320.00. Following the completion of the transaction, the chief financial officer owned 971,530 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,661 shares of MeiraGTx stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $9.36, for a total transaction of $258,906.96. Following the transaction, the insider directly owned 668,505 shares of the company’s stock, valued at $6,257,206.80. This represents a 3.97% 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. Over the last 90 days, insiders have sold 145,661 shares of company stock worth $1,290,647. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after acquiring an additional 1,466 shares in the last quarter. Kennedy Capital Management LLC boosted its position in MeiraGTx by 2.2% in the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after purchasing an additional 1,495 shares during the last quarter. Russell Investments Group Ltd. boosted its position in MeiraGTx by 4.3% in the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after purchasing an additional 3,452 shares during the last quarter. XTX Topco Ltd boosted its position in MeiraGTx by 11.0% in the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock worth $302,000 after purchasing an additional 3,766 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in MeiraGTx in the third quarter worth $33,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Performance

Shares of NASDAQ:MGTX opened at $9.82 on Tuesday. The firm has a market cap of $909.04 million, a PE ratio of -6.92 and a beta of 1.23. The firm’s fifty day moving average is $8.61 and its 200-day moving average is $8.23. MeiraGTx has a 52 week low of $4.55 and a 52 week high of $11.85.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.79. The company had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. MeiraGTx had a negative net margin of 140.31% and a negative return on equity of 1,065.47%. Sell-side analysts forecast that MeiraGTx will post -1.76 EPS for the current 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.