MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings 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 assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $26.00.

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

Insider Activity at MeiraGTx

In other MeiraGTx news, insider Stuart Naylor sold 27,659 shares of the company’s 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 completion of the sale, the insider directly owned 640,846 shares in the company, valued at $9,484,520.80. This represents a 4.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total value of $700,560.00. Following the completion of the sale, the chief financial officer directly owned 908,530 shares of the company’s stock, valued at $11,365,710.30. This trade represents a 5.81% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 145,659 shares of company stock valued at $1,678,453. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MeiraGTx

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 1,466 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of MeiraGTx by 2.2% in the 4th quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock valued at $562,000 after buying an additional 1,495 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of MeiraGTx by 4.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after buying an additional 3,452 shares during the last quarter. XTX Topco Ltd raised its position in shares of MeiraGTx by 11.0% during the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock valued at $302,000 after buying an additional 3,766 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of MeiraGTx by 24.3% during the 4th quarter. Hsbc Holdings PLC now owns 23,792 shares of the company’s stock valued at $189,000 after buying an additional 4,649 shares during the period. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Performance

NASDAQ MGTX opened at $12.96 on Thursday. The business has a fifty day moving average price of $11.94 and a 200 day moving average price of $9.76. The company has a market cap of $1.20 billion, a P/E ratio of -8.76 and a beta of 1.23. MeiraGTx has a one year low of $6.62 and a one year high of $15.35.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.04. The business had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. As a group, sell-side analysts predict that MeiraGTx will post -1.69 EPS for the current fiscal year.

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.