MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $25.83 Average Price Target from Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.8333.

A number of research firms have weighed in on MGTX. Royal Bank Of Canada raised their target price on shares of MeiraGTx from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Bank of America raised their target price on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Piper Sandler raised their target price on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Chardan Capital reissued a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a research note on Friday, March 27th. Finally, Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th.

Insider Activity

In other news, CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $10.22, for a total transaction of $572,320.00. Following the sale, the chief financial officer owned 971,530 shares of the company’s stock, valued at approximately $9,929,036.60. The trade was a 5.45% decrease in their position. The transaction was disclosed in a filing 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 27,661 shares of MeiraGTx stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $9.36, for a total transaction of $258,906.96. Following the sale, the insider directly owned 668,505 shares in the company, valued at approximately $6,257,206.80. The trade was a 3.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 207,661 shares of company stock valued at $1,859,187. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of MeiraGTx

Several institutional investors have recently made changes to their positions in MGTX. AQR Capital Management LLC purchased a new stake in shares of MeiraGTx during the 1st quarter valued at approximately $557,000. Rhumbline Advisers raised its position in shares of MeiraGTx by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock valued at $415,000 after buying an additional 5,488 shares during the period. Brown Advisory Inc. purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at approximately $326,000. Qube Research & Technologies Ltd purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at approximately $530,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of MeiraGTx during the 2nd quarter valued at approximately $319,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx Price Performance

MGTX opened at $9.39 on Friday. The company’s 50 day simple moving average is $9.43 and its two-hundred day simple moving average is $8.36. MeiraGTx has a 1-year low of $5.24 and a 1-year high of $11.85. The firm has a market capitalization of $869.61 million, a price-to-earnings ratio of -6.34 and a beta of 1.26.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, May 14th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.04. MeiraGTx had a negative net margin of 151.12% and a negative return on equity of 1,065.47%. The business had revenue of $0.29 million for the quarter, compared to analyst estimates of $17.00 million. On average, equities analysts anticipate that MeiraGTx will post -1.55 earnings per share 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.