Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) have received a consensus recommendation of "Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.1667.
A number of analysts have recently commented on the company. Zacks Research raised MeiraGTx from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. Royal Bank Of Canada increased their price objective on shares of MeiraGTx from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of MeiraGTx in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded MeiraGTx from a "hold" rating to a "buy" rating in a report on Saturday, August 15th.
Get Our Latest Stock Analysis on MGTX
Insider Buying and Selling at MeiraGTx
In other news, CEO Alexandria Forbes sold 62,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $13.86, for a total value of $859,320.00. Following the completion of the sale, the chief executive officer owned 1,325,695 shares in the company, valued at $18,374,132.70. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the company's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total transaction of $700,560.00. Following the completion of the sale, the chief financial officer directly owned 908,530 shares of the company's stock, valued at $11,365,710.30. The trade was a 5.81% decrease in their ownership of the stock. 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 quarter, insiders sold 145,659 shares of company stock worth $1,969,233. Insiders own 7.40% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of MGTX. Algert Global LLC lifted its position in shares of MeiraGTx by 13.9% during the second quarter. Algert Global LLC now owns 11,700 shares of the company's stock worth $158,000 after acquiring an additional 1,430 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of MeiraGTx by 43.8% during 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. Kennedy Capital Management LLC grew its stake in MeiraGTx by 2.2% in the 4th quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company's stock worth $562,000 after buying an additional 1,495 shares in the last quarter. Russell Investments Group Ltd. grew 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 acquiring an additional 3,452 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of MeiraGTx by 11.0% in the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company's stock worth $302,000 after purchasing an additional 3,766 shares in the last quarter. Institutional investors own 67.48% of the company's stock.
MeiraGTx Price Performance
Shares of MGTX stock opened at $13.89 on Monday. The company has a market cap of $1.33 billion, a P/E ratio of 19.56 and a beta of 1.27. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.46. MeiraGTx has a twelve month low of $6.62 and a twelve month high of $15.35. The business has a fifty day simple moving average of $13.21 and a 200 day simple moving average of $10.53.
MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $2.17. The company had revenue of $321.43 million for the quarter, compared to analyst estimates of $0.70 million. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. On average, sell-side analysts forecast that MeiraGTx will post 0.3 EPS for the current fiscal year.
MeiraGTx Company Profile
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Get Free Report)
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.
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