HC Wainwright Issues Positive Forecast for MeiraGTx Earnings

Key Points

• HC Wainwright raised its FY2027 EPS estimate for MeiraGTx to $0.83 from $0.67 and kept a Buy rating with a $20 price target.
• Other analysts remain largely positive on the stock, with a consensus rating of Moderate Buy and an average price target of $26.
• MeiraGTx shares were down 3.5% to $14.14, while the company recently reported a smaller-than-expected quarterly loss but much weaker revenue than analysts had projected.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Free Report) - Equities research analysts at HC Wainwright upped their FY2027 earnings per share estimates for MeiraGTx in a note issued to investors on Wednesday, July 8th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn $0.83 per share for the year, up from their previous estimate of $0.67. HC Wainwright has a "Buy" rating and a $20.00 price target on the stock. The consensus estimate for MeiraGTx's current full-year earnings is ($1.55) per share. HC Wainwright also issued estimates for MeiraGTx's Q4 2027 earnings at $2.18 EPS.

Other analysts have also issued reports about the stock. Royal Bank Of Canada upped their price target on shares of MeiraGTx from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday. Chardan Capital restated a "buy" rating and set a $35.00 price objective on shares of MeiraGTx in a research note on Friday, March 27th. Piper Sandler boosted their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Bank of America upped their target price on shares of MeiraGTx from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of MeiraGTx from a "sell" rating to a "hold" rating in a research note on Sunday, April 5th. One 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 given a Sell rating to the company. Based on data from MarketBeat, MeiraGTx has an average rating of "Moderate Buy" and a consensus price target of $26.00.

MeiraGTx Trading Down 3.5%

NASDAQ:MGTX opened at $14.14 on Thursday. MeiraGTx has a 1-year low of $6.62 and a 1-year high of $15.35. The firm has a fifty day simple moving average of $10.51 and a 200 day simple moving average of $8.93. The stock has a market capitalization of $1.31 billion, a PE ratio of -9.55 and a beta of 1.20.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGTX. BNP Paribas Financial Markets boosted its holdings 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 during the period. Tower Research Capital LLC TRC increased its stake in shares of MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company's stock worth $57,000 after purchasing an additional 7,005 shares during the period. ProShare Advisors LLC acquired a new stake in MeiraGTx during the 4th quarter worth approximately $94,000. Bank of Nova Scotia acquired a new stake in MeiraGTx during the 1st quarter worth approximately $105,000. Finally, Abel Hall LLC bought a new stake in MeiraGTx in the 4th quarter valued at $98,000. 67.48% of the stock is owned by institutional investors.

Insider Buying and Selling at MeiraGTx

In other news, insider Stuart Naylor sold 27,659 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $14.80, for a total value of $409,353.20. Following the transaction, the insider directly owned 640,846 shares of the company's stock, valued at $9,484,520.80. This represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the stock in a transaction dated 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 directly owned 971,530 shares in the company, valued at $9,929,036.60. The trade was a 5.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 145,659 shares of company stock valued at $1,550,213 in the last quarter. 7.40% of the stock is currently owned by insiders.

MeiraGTx Company Profile

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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