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

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.00.

Several equities analysts recently commented on MGTX shares. Wall Street Zen upgraded shares of MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of MeiraGTx in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. Royal Bank Of Canada increased their price target on MeiraGTx from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Piper Sandler raised their price target on MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd.

MeiraGTx Stock Down 2.7%

MGTX stock opened at $11.77 on Friday. MeiraGTx has a twelve month low of $6.62 and a twelve month high of $15.35. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -7.95 and a beta of 1.20. The firm’s fifty day simple moving average is $11.21 and its two-hundred day simple moving average is $9.30.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.04. The firm had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $17.00 million. As a group, equities research analysts expect that MeiraGTx will post -1.53 EPS for the current year.

Insider Buying and Selling at MeiraGTx

In other news, CEO Alexandria Forbes sold 62,000 shares of MeiraGTx stock in a transaction 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 completion of the sale, the chief executive officer directly owned 1,387,695 shares in the company, valued at approximately $12,725,163.15. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of MeiraGTx stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total value of $409,353.20. Following the sale, the insider owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGTX. BNP Paribas Financial Markets boosted its position in MeiraGTx by 43.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after buying an additional 1,466 shares during the period. Kennedy Capital Management LLC increased its position in shares of MeiraGTx by 2.2% during the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after acquiring an additional 1,495 shares during the period. Russell Investments Group Ltd. increased its position in shares of MeiraGTx by 4.3% during the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after acquiring an additional 3,452 shares during the period. XTX Topco Ltd raised its stake in shares of MeiraGTx by 11.0% during the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock valued at $302,000 after acquiring an additional 3,766 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of MeiraGTx by 24.3% during the fourth 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 in the last quarter. Institutional investors own 67.48% of the company’s stock.

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.