HC Wainwright Has Optimistic Outlook of MeiraGTx Q4 Earnings

Key Points

• HC Wainwright raised its Q4 2027 EPS estimate for MeiraGTx to $2.16 from $2.08 and reiterated a Buy rating on the stock.
• The broader analyst view remains mixed but constructive, with MeiraGTx carrying an average rating of “Moderate Buy” and an average target price of $25.83.
• MeiraGTx recently reported a smaller-than-expected loss, but revenue fell far short of forecasts, coming in at just $0.29 million versus $17 million expected.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) - Research analysts at HC Wainwright upped their Q4 2027 EPS estimates for shares of MeiraGTx in a note issued to investors on Tuesday, May 26th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of $2.16 per share for the quarter, up from their previous forecast of $2.08. HC Wainwright currently has a "Buy" rating on the stock. The consensus estimate for MeiraGTx's current full-year earnings is ($1.63) per share.

A number of other analysts also recently issued reports on the stock. Piper Sandler increased their target price on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Zacks Research raised shares of MeiraGTx from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their target price on shares of MeiraGTx from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Finally, Wall Street Zen raised MeiraGTx from a "sell" rating to a "hold" rating in a research report on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.83.

MeiraGTx Stock Performance

MGTX opened at $9.60 on Wednesday. The firm has a 50 day moving average price of $9.15 and a 200 day moving average price of $8.30. The company has a market cap of $889.06 million, a PE ratio of -6.49 and a beta of 1.23. MeiraGTx has a 1 year low of $5.02 and a 1 year high of $11.85.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $17.00 million. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, insider Stuart Naylor sold 27,661 shares of the firm's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $9.36, for a total value 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 trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 business's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.22, for a total transaction of $572,320.00. Following the transaction, the chief financial officer directly owned 971,530 shares in the company, valued at approximately $9,929,036.60. The trade was a 5.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 207,661 shares of company stock valued at $1,859,187 over the last three months. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MGTX. Rubric Capital Management LP lifted its position in shares of MeiraGTx by 65.7% during the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company's stock worth $49,094,000 after purchasing an additional 2,448,880 shares in the last quarter. Millennium Management LLC lifted its position in shares of MeiraGTx by 23.5% during the fourth quarter. Millennium Management LLC now owns 3,176,390 shares of the company's stock worth $25,252,000 after purchasing an additional 604,121 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of MeiraGTx by 7.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company's stock worth $39,345,000 after purchasing an additional 400,000 shares in the last quarter. Opaleye Management Inc. acquired a new position in shares of MeiraGTx during the fourth quarter worth $3,107,000. Finally, Jefferies Financial Group Inc. purchased a new position in MeiraGTx in the fourth quarter valued at about $2,371,000. 67.48% of the stock is owned by institutional investors and hedge funds.

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.

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