MeiraGTx Holdings PLC (NASDAQ:MGTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $25.8333.

A number of equities research analysts have recently weighed in on MGTX shares. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a research note on Friday, March 27th. Bank of America lifted their target price on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Piper Sandler boosted their price target 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. Royal Bank Of Canada raised their price objective on shares of MeiraGTx from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, HC Wainwright restated a “buy” rating on shares of MeiraGTx in a report on Tuesday, May 26th.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, insider Stuart Naylor sold 27,661 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total transaction of $258,906.96. Following the completion of the transaction, the insider owned 668,505 shares in the company, valued at $6,257,206.80. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 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 owned 971,530 shares of the company’s stock, valued at approximately $9,929,036.60. The trade was a 5.45% decrease in their position. 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 have sold 145,661 shares of company stock valued at $1,399,767 in the last quarter. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 buying an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of MeiraGTx by 390.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after acquiring an additional 7,005 shares during the period. ProShare Advisors LLC purchased a new stake in MeiraGTx in the 4th quarter valued at $94,000. Abel Hall LLC purchased a new stake in MeiraGTx in the 4th quarter valued at $98,000. Finally, Bank of Nova Scotia purchased a new stake in MeiraGTx in the 1st quarter valued at $105,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

MeiraGTx Trading Up 2.9%

Shares of NASDAQ:MGTX opened at $11.81 on Wednesday. The business has a 50-day moving average price of $9.82 and a 200 day moving average price of $8.58. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.98 and a beta of 1.26. MeiraGTx has a 12-month low of $6.12 and a 12-month high of $11.90.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.04. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. The firm had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $17.00 million. As a group, equities research analysts predict that MeiraGTx will post -1.55 earnings per share for the current fiscal year.

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.