MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $23.67 Consensus PT from Analysts
by Michael Walen · The Markets DailyShares of MeiraGTx Holdings PLC (NASDAQ:MGTX – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.6667.
Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a report on Thursday, January 22nd. Finally, Bank of America upped their price objective on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, March 27th.
View Our Latest Stock Report on MeiraGTx
Insider Activity
In related news, CEO Alexandria Forbes sold 62,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total value of $459,420.00. Following the completion of the sale, the chief executive officer owned 1,449,695 shares of the company’s stock, valued at $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stuart Naylor sold 27,661 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $9.36, for a total transaction of $258,906.96. Following the completion of the sale, the insider directly owned 668,505 shares of the company’s stock, valued at $6,257,206.80. The trade was a 3.97% decrease in their position. 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. Corporate insiders own 7.50% of the company’s stock.
Institutional Investors Weigh In On MeiraGTx
Institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. lifted its holdings in MeiraGTx by 183.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company’s stock valued at $2,453,000 after acquiring an additional 199,528 shares during the last quarter. 683 Capital Management LLC lifted its holdings in MeiraGTx by 4.5% in the 2nd quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company’s stock valued at $17,539,000 after acquiring an additional 115,000 shares during the last quarter. AMH Equity Ltd acquired a new stake in MeiraGTx in the 3rd quarter valued at about $658,000. Hsbc Holdings PLC lifted its holdings in MeiraGTx by 24.3% in the 4th quarter. Hsbc Holdings PLC now owns 23,792 shares of the company’s stock valued at $189,000 after acquiring an additional 4,649 shares during the last quarter. Finally, Abel Hall LLC acquired a new stake in MeiraGTx in the 4th quarter valued at about $98,000. 67.48% of the stock is owned by institutional investors and hedge funds.
MeiraGTx Stock Performance
MeiraGTx stock opened at $8.97 on Friday. The company has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $8.04. The firm has a market capitalization of $730.61 million, a P/E ratio of -6.32 and a beta of 1.27. MeiraGTx has a one year low of $4.55 and a one year high of $9.88.
MeiraGTx (NASDAQ:MGTX – Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.60) by $0.79. The business had revenue of $75.36 million during the quarter, compared to analyst estimates of $3.87 million. MeiraGTx had a negative net margin of 140.31% and a negative return on equity of 1,065.47%. As a group, sell-side analysts forecast that MeiraGTx will post -1.48 earnings per share for the current 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.