MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $26.00 Consensus Target Price from Analysts

by · The Markets Daily

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $26.00.

Several research analysts have recently commented on MGTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research note on Wednesday, October 8th. Piper Sandler upped their price objective on shares of MeiraGTx from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Royal Bank Of Canada raised their target price on MeiraGTx from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Raymond James Financial assumed coverage on MeiraGTx in a research report on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price target for the company. Finally, Wall Street Zen lowered MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th.

Check Out Our Latest Stock Report on MGTX

Insider Transactions at MeiraGTx

In other news, CEO Alexandria Forbes sold 47,500 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $8.39, for a total value of $398,525.00. Following the sale, the chief executive officer directly owned 1,313,983 shares of the company’s stock, valued at approximately $11,024,317.37. This trade represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $8.87, for a total value of $212,880.00. Following the transaction, the chief financial officer directly owned 829,494 shares of the company’s stock, valued at $7,357,611.78. This represents a 2.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of MeiraGTx by 37.0% during the 1st quarter. Wellington Management Group LLP now owns 206,980 shares of the company’s stock worth $1,403,000 after purchasing an additional 55,854 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of MeiraGTx by 6.1% during the first quarter. Rhumbline Advisers now owns 58,227 shares of the company’s stock worth $395,000 after buying an additional 3,336 shares in the last quarter. 22NW LP bought a new position in shares of MeiraGTx in the second quarter valued at approximately $3,824,000. 683 Capital Management LLC boosted its holdings in shares of MeiraGTx by 6.6% in the 1st quarter. 683 Capital Management LLC now owns 2,575,000 shares of the company’s stock worth $17,458,000 after acquiring an additional 160,000 shares in the last quarter. Finally, Invesco Ltd. grew its position in MeiraGTx by 1,628.7% during the 1st quarter. Invesco Ltd. now owns 350,401 shares of the company’s stock worth $2,376,000 after acquiring an additional 330,131 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

MeiraGTx Stock Down 0.6%

NASDAQ MGTX opened at $8.39 on Friday. MeiraGTx has a 12 month low of $4.55 and a 12 month high of $9.73. The company has a market capitalization of $675.31 million, a P/E ratio of -3.98 and a beta of 1.38. The company’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $7.72. The company has a debt-to-equity ratio of 26.29, a current ratio of 0.22 and a quick ratio of 0.22.

MeiraGTx (NASDAQ:MGTX – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.12). The firm had revenue of $0.41 million during the quarter, compared to analyst estimates of $7.71 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%. Equities research analysts expect that MeiraGTx will post -1.48 earnings per share for the current fiscal year.

About MeiraGTx

(Get Free Report)

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.

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