MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $26.00 Consensus Target Price from Analysts

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $26.00.

A number of research firms recently commented on MGTX. Raymond James Financial began coverage on MeiraGTx in a research report on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price target for the company. Royal Bank Of Canada upped their target price on shares of MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Wednesday, October 8th. HC Wainwright began coverage on shares of MeiraGTx in a report on Monday, November 24th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Wall Street Zen downgraded shares of MeiraGTx from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th.

Insider Activity at MeiraGTx

In other news, CEO Alexandria Forbes sold 47,500 shares of MeiraGTx stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $8.39, for a total transaction of $398,525.00. Following the sale, the chief executive officer directly owned 1,313,983 shares in the company, valued at $11,024,317.37. The trade was a 3.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $8.87, for a total transaction of $212,880.00. Following the completion of the transaction, the chief financial officer directly owned 829,494 shares in the company, valued at $7,357,611.78. This trade represents a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of MeiraGTx during the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets grew its holdings in MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after purchasing an additional 1,466 shares during the period. Tower Research Capital LLC TRC grew its holdings in MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after purchasing an additional 7,005 shares during the period. FNY Investment Advisers LLC purchased a new stake in MeiraGTx in the second quarter worth $61,000. Finally, Ieq Capital LLC bought a new stake in shares of MeiraGTx in the first quarter valued at $83,000. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

MeiraGTx Price Performance

Shares of NASDAQ MGTX opened at $8.66 on Friday. The stock has a market cap of $697.04 million, a price-to-earnings ratio of -4.10 and a beta of 1.38. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. MeiraGTx has a fifty-two week low of $4.55 and a fifty-two week high of $9.73. The firm’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $7.69.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.12). The company had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $7.71 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%. As a group, research analysts anticipate that MeiraGTx will post -1.48 earnings per share for the current fiscal year.

MeiraGTx Company Profile

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.