MeiraGTx Holdings PLC (NASDAQ:MGTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One research 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 covered the stock in the last year is $25.8333.

MGTX has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. HC Wainwright reiterated a “buy” rating on shares of MeiraGTx in a report on Tuesday, May 26th. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Bank of America increased 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a report on Tuesday, April 21st.

MeiraGTx Trading Up 7.7%

NASDAQ:MGTX opened at $13.51 on Wednesday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -9.13 and a beta of 1.26. The company’s 50-day moving average is $10.01 and its two-hundred day moving average is $8.71. MeiraGTx has a 12-month low of $6.30 and a 12-month high of $13.63.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.04. The company had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. On average, equities research analysts forecast that MeiraGTx will post -1.55 earnings per share for the current fiscal year.

Insider Transactions at MeiraGTx

In related news, CFO Richard Giroux sold 56,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $572,320.00. Following the completion of the sale, the chief financial officer owned 971,530 shares of the company’s stock, valued at approximately $9,929,036.60. This represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total transaction of $568,540.00. Following the sale, the chief executive officer directly owned 1,387,695 shares of the company’s stock, valued at approximately $12,725,163.15. This trade represents a 4.28% 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. Insiders have sold a total of 145,661 shares of company stock worth $1,399,767 in the last three months. Company insiders own 7.40% of the company’s stock.

Institutional Trading of MeiraGTx

A number of institutional investors and hedge funds have recently bought and sold shares of MGTX. AQR Capital Management LLC acquired a new stake in MeiraGTx during the 1st quarter worth approximately $557,000. Rhumbline Advisers increased its position in MeiraGTx by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock worth $415,000 after purchasing an additional 5,488 shares in the last quarter. Brown Advisory Inc. acquired a new stake in MeiraGTx during the 2nd quarter worth approximately $326,000. Qube Research & Technologies Ltd acquired a new stake in MeiraGTx during the 2nd quarter worth approximately $530,000. Finally, Quantinno Capital Management LP acquired a new stake in MeiraGTx during the 2nd quarter worth approximately $319,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

MeiraGTx Company Profile

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.