MeiraGTx (NASDAQ:MGTX) Posts Quarterly Earnings Results, Beats Estimates By $0.79 EPS
by Danessa Lincoln · The Markets DailyMeiraGTx (NASDAQ:MGTX – Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.79, Zacks reports. The business had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. MeiraGTx had a negative net margin of 615.27% and a negative return on equity of 1,065.47%.
MeiraGTx Stock Down 1.5%
Shares of MGTX stock traded down $0.11 during trading on Friday, hitting $7.42. 149,918 shares of the company were exchanged, compared to its average volume of 402,552. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market capitalization of $597.24 million, a price-to-earnings ratio of -3.54 and a beta of 1.37. The business’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $7.94. MeiraGTx has a twelve month low of $4.55 and a twelve month high of $9.73.
Analysts Set New Price Targets
MGTX has been the subject of a number of recent analyst reports. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Bank of America raised their target price on MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Zacks Research upgraded MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.33.
Read Our Latest Stock Analysis on MGTX
Key Headlines Impacting MeiraGTx
Here are the key news stories impacting MeiraGTx this week:
- Positive Sentiment: Q4 beat — MeiraGTx reported $0.19 EPS and $75.36M revenue, materially ahead of consensus (EPS vs. loss expectation and revenue well above estimates), supporting the view that recent program milestones are translating into revenue recognition and reducing short-term execution risk. View Press Release
- Positive Sentiment: FDA Breakthrough Therapy Designation — The FDA granted Breakthrough Therapy Designation to AAV2-hAQP1 for Grade 2/3 radiation‑induced xerostomia, accelerating regulatory pathway and raising the program’s commercial probability of success. Management also scheduled a program update with long-term data on April 16. Globe Newswire Release
- Positive Sentiment: Analyst upgrades / price-target increases — Bank of America raised its target to $16 and gave a Buy; Chardan reaffirmed a Buy and maintained a $35 target, signaling stronger sell‑side conviction and creating sizable upside vs. the current price. Benzinga
- Neutral Sentiment: Broader analyst coverage and institutional ownership — Market data shows mixed analyst ratings (Moderate Buy consensus) and ~67% institutional ownership, which can amplify moves but leaves room for divergent views. MarketBeat
- Negative Sentiment: Insider sale — CEO Alexandria Forbes sold 62,000 shares (~$459k), which may be perceived as profit-taking or reduce near‑term insider buying signal. InsiderTrades
- Negative Sentiment: Fundamentals remain challenged — Despite the beat, MeiraGTx still shows a negative net margin and ROE, low current/quick ratios and a high reported debt/equity metric, which keeps cash‑flow and funding risk top of mind for investors. MarketBeat fundamentals
Insiders Place Their Bets
In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total value of $459,420.00. Following the transaction, the chief executive officer owned 1,449,695 shares in the company, valued at approximately $10,742,239.95. This represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.50% of the company’s stock.
Hedge Funds Weigh In On MeiraGTx
Institutional investors and hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP increased its stake in shares of MeiraGTx by 65.7% in the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company’s stock worth $49,094,000 after acquiring an additional 2,448,880 shares during the last quarter. Millennium Management LLC boosted its position in MeiraGTx by 23.5% during the fourth quarter. Millennium Management LLC now owns 3,176,390 shares of the company’s stock valued at $25,252,000 after purchasing an additional 604,121 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in MeiraGTx by 7.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock valued at $39,345,000 after purchasing an additional 400,000 shares in the last quarter. Opaleye Management Inc. purchased a new position in MeiraGTx in the fourth quarter valued at about $3,107,000. Finally, Bank of America Corp DE increased its position in MeiraGTx by 493.8% in the 2nd quarter. Bank of America Corp DE now owns 266,666 shares of the company’s stock worth $1,739,000 after purchasing an additional 221,755 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.