MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $23.67 Average Target Price from Analysts

MeiraGTx Holdings PLC (NASDAQ:MGTX) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.6667.

A number of analysts have weighed in on MGTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a report on Thursday, January 22nd. Wall Street Zen upgraded MeiraGTx from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Zacks Research upgraded MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Piper Sandler decreased their price objective on MeiraGTx from $30.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, March 27th. Finally, Chardan Capital reiterated a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a report on Friday, March 27th.

Insider Buying and Selling at MeiraGTx

In other news, insider Stuart Naylor sold 27,661 shares of the stock in a transaction on 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 owned 668,505 shares in the company, valued at approximately $6,257,206.80. This represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 sale, the chief executive officer owned 1,449,695 shares of the company’s stock, valued at approximately $10,742,239.95. This represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of MeiraGTx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of MeiraGTx by 183.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company’s stock valued at $2,453,000 after purchasing an additional 199,528 shares during the last quarter. 683 Capital Management LLC increased its position in shares of 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 period. AMH Equity Ltd acquired a new position in shares of MeiraGTx in the 3rd quarter valued at $658,000. AlphaCentric Advisors LLC acquired a new position in shares of MeiraGTx in the 4th quarter valued at $227,000. Finally, Engineers Gate Manager LP acquired a new position in shares of MeiraGTx in the 4th quarter valued at $213,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Down 15.7%

MeiraGTx stock opened at $9.48 on Friday. The business has a fifty day moving average of $8.06 and a two-hundred day moving average of $8.11. The firm has a market cap of $772.11 million, a P/E ratio of -6.68 and a beta of 1.27. MeiraGTx has a twelve month low of $4.55 and a twelve month high of $11.85.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.79. The company had revenue of $75.36 million during the quarter, compared to analyst estimates of $3.87 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%. Equities analysts expect 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.