MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Moderate Buy consensus: Eight analysts average a "Moderate Buy" on MGTX (1 sell, 1 hold, 5 buy, 1 strong buy) with a one‑year average price target of $25.67.
• Insider selling: CEO Alexandria Forbes and CFO Richard Giroux recently sold 62,000 and 56,000 shares respectively, and insiders disposed of 145,661 shares (~$1.29M) in the last three months while retaining 7.5% ownership.
• Big quarterly beat but still unprofitable: MeiraGTx reported EPS of $0.19 vs. a -$0.60 consensus and revenue of $75.36M vs. $3.87M expected, yet the company still posts negative margins and analysts forecast -1.76 EPS for the fiscal year.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.6667.

Several equities research analysts recently issued reports on MGTX shares. Piper Sandler boosted their price objective on MeiraGTx from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded MeiraGTx from a "sell" rating to a "hold" rating in a report on Sunday, April 5th. Royal Bank Of Canada boosted their target price on MeiraGTx from $16.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research note on Tuesday, April 21st. Finally, Zacks Research raised MeiraGTx from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th.

Insider Buying and Selling

In related news, CEO Alexandria Forbes sold 62,000 shares of the business's stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total transaction of $459,420.00. Following the completion of the transaction, the chief executive officer directly owned 1,449,695 shares of the company's stock, valued at $10,742,239.95. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $572,320.00. Following the transaction, the chief financial officer directly owned 971,530 shares of the company's stock, valued at $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 sold 145,661 shares of company stock valued at $1,290,647 in the last three months. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MGTX. BNP Paribas Financial Markets grew its stake in MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock worth $31,000 after purchasing an additional 1,466 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in MeiraGTx during the 3rd quarter worth $33,000. Tower Research Capital LLC TRC grew its stake in MeiraGTx by 390.9% during the 2nd 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 in the last quarter. ProShare Advisors LLC acquired a new position in shares of MeiraGTx during the 4th quarter worth about $94,000. Finally, Abel Hall LLC purchased a new position in shares of MeiraGTx in the 4th quarter valued at about $98,000. 67.48% of the stock is owned by institutional investors and hedge funds.

MeiraGTx Trading Up 3.1%

MGTX stock opened at $9.70 on Tuesday. The company has a market capitalization of $790.07 million, a PE ratio of -6.83 and a beta of 1.23. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $11.85. The business's fifty day moving average price is $8.47 and its 200 day moving average price is $8.20.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.79. The firm had revenue of $75.36 million for the quarter, compared to the consensus estimate of $3.87 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%. Research analysts predict that MeiraGTx will post -1.76 EPS for the current fiscal year.

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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