MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

Several equities research analysts have commented on MGTX shares. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of MeiraGTx in a research report on Wednesday, July 8th. Chardan Capital reaffirmed a “buy” rating and set a $35.00 target price on shares of MeiraGTx in a report on Friday, March 27th. Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Royal Bank Of Canada increased their price target on shares of MeiraGTx from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Bank of America raised their price target on shares of MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, March 27th.

MeiraGTx Stock Up 0.9%

Shares of MGTX opened at $12.44 on Friday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -8.41 and a beta of 1.20. MeiraGTx has a 52 week low of $6.62 and a 52 week high of $15.35. The stock’s 50-day moving average price is $10.97 and its 200-day moving average price is $9.16.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to analysts’ expectations of $17.00 million. As a group, equities analysts anticipate that MeiraGTx will post -1.53 EPS for the current fiscal year.

Insider Transactions at MeiraGTx

In other news, CFO Richard Giroux sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.22, for a total transaction of $572,320.00. Following the sale, the chief financial officer directly owned 971,530 shares in the company, valued at $9,929,036.60. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alexandria Forbes sold 62,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $9.17, for a total value of $568,540.00. Following the sale, the chief executive officer owned 1,387,695 shares in the company, valued at $12,725,163.15. This trade represents a 4.28% 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 have sold a total of 145,659 shares of company stock valued at $1,550,213 in the last ninety days. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of MeiraGTx

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of MeiraGTx in the first quarter valued at approximately $557,000. Rhumbline Advisers lifted its position in shares of MeiraGTx by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock valued at $415,000 after buying an additional 5,488 shares in the last quarter. Brown Advisory Inc. acquired a new stake in MeiraGTx in the 2nd quarter valued at $326,000. Qube Research & Technologies Ltd acquired a new stake in MeiraGTx in the 2nd quarter valued at $530,000. Finally, Quantinno Capital Management LP purchased a new stake in MeiraGTx in the 2nd quarter worth $319,000. 67.48% of the stock is owned by institutional investors and hedge funds.

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.