MeiraGTx (NASDAQ:MGTX) Releases Earnings Results, Beats Expectations By $0.22 EPS
MeiraGTx (NASDAQ:MGTX) announced its earnings results on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.22, Fidelity Earnings reports. The business had revenue of $3.58 million for the quarter.
Shares of NASDAQ MGTX traded up $0.01 during midday trading on Friday, reaching $14.46. 95,600 shares of the company’s stock were exchanged, compared to its average volume of 164,422. MeiraGTx has a 52-week low of $8.53 and a 52-week high of $30.23. The stock has a market capitalization of $488.19 million, a PE ratio of -3.29 and a beta of 2.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.22 and a current ratio of 5.22. The business’s fifty day moving average price is $15.47 and its two-hundred day moving average price is $20.92.
A number of analysts have recently issued reports on MGTX shares. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of MeiraGTx in a research report on Monday, September 23rd. ValuEngine raised MeiraGTx from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Piper Jaffray Companies started coverage on MeiraGTx in a research report on Tuesday, September 3rd. They set an “overweight” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.75.
MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.
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