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

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.00.

MGTX has been the topic of several research reports. HC Wainwright started coverage on MeiraGTx in a report on Monday, November 24th. They issued a “buy” rating and a $20.00 target price on the stock. Raymond James Financial assumed coverage on MeiraGTx in a research note on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price objective on the stock. Wall Street Zen cut MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a report on Wednesday, October 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research note on Tuesday, November 11th.

Insider Activity

In related news, CEO Alexandria Forbes sold 47,500 shares of the 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 completion of the transaction, the chief executive officer owned 1,313,983 shares of the company’s stock, valued at approximately $11,024,317.37. This trade represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value 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 approximately $7,357,611.78. This represents a 2.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.50% of the stock is currently owned by corporate insiders.

Institutional Trading of MeiraGTx

Institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management LLC boosted its stake in MeiraGTx by 3.8% during the second quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock worth $229,000 after buying an additional 1,287 shares during the period. BNP Paribas Financial Markets lifted 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 worth $31,000 after acquiring an additional 1,466 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of MeiraGTx by 6.1% during the 1st quarter. Rhumbline Advisers now owns 58,227 shares of the company’s stock worth $395,000 after purchasing an additional 3,336 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of MeiraGTx by 4.3% during the 3rd 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 period. Finally, Charles Schwab Investment Management Inc. grew its holdings in MeiraGTx by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 116,027 shares of the company’s stock valued at $787,000 after purchasing an additional 4,006 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Price Performance

MGTX stock opened at $8.92 on Friday. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. The company’s fifty day moving average price is $8.35 and its 200-day moving average price is $7.75. MeiraGTx has a one year low of $4.55 and a one year high of $9.73. The company has a market capitalization of $717.98 million, a PE ratio of -4.23 and a beta of 1.38.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly 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). The company had revenue of $0.41 million during the quarter, compared to the consensus estimate of $7.71 million. MeiraGTx had a negative net margin of 615.27% and a negative return on equity of 1,065.47%. On average, equities analysts anticipate that MeiraGTx will post -1.48 EPS for the current fiscal year.

About MeiraGTx

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.