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

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

A number of brokerages recently issued reports on MGTX. Piper Sandler boosted their price objective on MeiraGTx from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada boosted their price target on shares of MeiraGTx from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a report on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a research note on Tuesday, November 11th. Finally, Wall Street Zen downgraded MeiraGTx from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th.

Insiders Place Their Bets

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $8.87, for a total transaction of $212,880.00. Following the completion of the transaction, the chief financial officer owned 829,494 shares of the company’s stock, valued at $7,357,611.78. The trade was a 2.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alexandria Forbes sold 47,500 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $8.39, for a total value of $398,525.00. Following the sale, the chief executive officer 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.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 1,466 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of MeiraGTx in the third quarter worth $33,000. Tower Research Capital LLC TRC raised its position 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 buying an additional 7,005 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in MeiraGTx during the second quarter valued at $61,000. Finally, Ieq Capital LLC purchased a new position in MeiraGTx during the first quarter worth about $83,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx Trading Down 1.8%

NASDAQ:MGTX opened at $7.81 on Wednesday. MeiraGTx has a 12 month low of $4.55 and a 12 month high of $9.73. 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 firm’s 50 day moving average is $8.28 and its 200 day moving average is $8.01. The stock has a market capitalization of $628.63 million, a PE ratio of -3.70 and a beta of 1.38.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, November 13th. The company reported ($0.62) earnings per share (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 firm had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $7.71 million. Sell-side analysts expect that MeiraGTx will post -1.48 earnings per share 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.