Brokerages Set MeiraGTx Holdings PLC (NASDAQ:MGTX) PT at $26.00

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $26.1667.

A number of equities research analysts have recently weighed in on MGTX shares. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Royal Bank Of Canada lifted their target price 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. Zacks Research raised shares of MeiraGTx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of MeiraGTx in a report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a report on Friday, July 17th.

MeiraGTx Trading Up 7.8%

Shares of MGTX opened at $14.97 on Thursday. The business’s 50-day moving average price is $12.39 and its 200-day moving average price is $9.97. MeiraGTx has a twelve month low of $6.62 and a twelve month high of $15.35. The stock has a market cap of $1.44 billion, a PE ratio of 21.08 and a beta of 1.23. 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 (NASDAQ:MGTX) last released its earnings results on Thursday, August 13th. The company reported $1.71 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, equities analysts forecast that MeiraGTx will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CFO Richard Giroux sold 56,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total transaction of $700,560.00. Following the sale, the chief financial officer owned 908,530 shares of the company’s stock, valued at approximately $11,365,710.30. This trade represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total value of $409,353.20. Following the transaction, the insider owned 640,846 shares in the company, valued at approximately $9,484,520.80. This trade represents a 4.14% 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. Insiders sold a total of 145,659 shares of company stock valued at $1,969,233 in the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

A number of hedge funds have recently modified their holdings of the business. Algert Global LLC increased 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 during the period. BNP Paribas Financial Markets lifted its holdings in shares of MeiraGTx by 43.8% in the 2nd 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 last quarter. Kennedy Capital Management LLC boosted its position in shares of MeiraGTx by 2.2% in the 4th quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock valued at $562,000 after purchasing an additional 1,495 shares during the period. Russell Investments Group Ltd. boosted its position in shares of MeiraGTx by 4.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock valued at $682,000 after purchasing an additional 3,452 shares during the period. Finally, XTX Topco Ltd grew its stake in MeiraGTx by 11.0% during the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock worth $302,000 after buying an additional 3,766 shares during the last quarter. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

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.