MeiraGTx (MGTX) Announces Earnings Results

MeiraGTx (NASDAQ:MGTX) released its quarterly earnings data on Tuesday. The company reported ($0.62) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.64) by $0.02, MarketWatch Earnings reports.

MeiraGTx stock opened at $21.50 on Wednesday. MeiraGTx has a 1-year low of $7.98 and a 1-year high of $21.93. The company has a market capitalization of $592.83 million and a PE ratio of -4.90.

Several research firms have recently weighed in on MGTX. Barclays reissued a “positive” rating and issued a $30.00 price target (up previously from $20.00) on shares of MeiraGTx in a research note on Wednesday. Zacks Investment Research raised shares of MeiraGTx from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Saturday, March 30th. Finally, Chardan Capital reissued a “buy” rating on shares of MeiraGTx in a research note on Tuesday. Five analysts have rated the stock with a buy rating, MeiraGTx presently has a consensus rating of “Buy” and an average target price of $27.75.

In other news, major shareholder Life Sciences Maste Perceptive purchased 1,304,348 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was acquired at an average price of $13.80 per share, with a total value of $18,000,002.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

A hedge fund recently raised its stake in MeiraGTx stock. Geode Capital Management LLC raised its stake in shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) by 54.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,625 shares of the company’s stock after acquiring an additional 5,834 shares during the quarter. Geode Capital Management LLC owned approximately 0.06% of MeiraGTx worth $160,000 at the end of the most recent quarter. Institutional investors and hedge funds own 21.81% of the company’s stock.

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About MeiraGTx

MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.

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