MeiraGTx (NASDAQ:MGTX) Releases Earnings Results, Misses Expectations By $0.07 EPS

MeiraGTx (NASDAQ:MGTX) posted its earnings results on Thursday. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.07), FiscalAI reports. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%. The business had revenue of $4.81 million for the quarter, compared to analyst estimates of $6.95 million.

MeiraGTx Stock Down 7.8%

MGTX traded down $0.76 on Thursday, reaching $8.93. The company’s stock had a trading volume of 648,991 shares, compared to its average volume of 744,519. The stock has a market cap of $857.16 million, a price-to-earnings ratio of 12.56 and a beta of 1.09. MeiraGTx has a 1 year low of $6.62 and a 1 year high of $15.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.76 and a quick ratio of 3.76. The business’s 50 day moving average is $10.91 and its 200 day moving average is $10.35.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $13.86, for a total value of $859,320.00. Following the transaction, the chief executive officer directly owned 1,325,695 shares of the company’s stock, valued at $18,374,132.70. This represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 that occurred on Tuesday, October 20th. The stock was sold at an average price of $9.95, for a total transaction of $557,200.00. Following the sale, the chief financial officer directly owned 852,530 shares of the company’s stock, valued at $8,482,673.50. The trade was a 6.16% 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 sold a total of 145,659 shares of company stock worth $1,710,812 in the last 90 days. 7.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MGTX has been the topic of a number of research reports. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Weiss Ratings upgraded MeiraGTx from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada raised their target price on MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Zacks Research lowered MeiraGTx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Finally, The Goldman Sachs Group started coverage on MeiraGTx in a report on Thursday, September 24th. They issued a “neutral” rating and a $16.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

About MeiraGTx

MeiraGTx Holdings plc is a biotechnology company developing gene therapies for serious diseases with limited treatment options. Its research focuses on using adeno-associated virus (AAV) vectors to deliver genetic material to target cells, including in programs for inherited retinal diseases, neurological conditions and salivary gland dysfunction. The company also develops manufacturing capabilities and technologies intended to support the production of gene therapies. MeiraGTx was founded in 2015 and has operations in the United States and the United Kingdom.