MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $26.17 Average Price Target from Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $26.1667.

A number of equities analysts have recently issued reports on MGTX shares. Zacks Research upgraded shares of MeiraGTx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Royal Bank Of Canada raised their target price on shares of MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of MeiraGTx in a report on Wednesday, July 8th.

Insider Buying and Selling at MeiraGTx

In other news, CEO Alexandria Forbes sold 62,000 shares of the firm’s stock in a transaction 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 in the company, valued at $18,374,132.70. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of MeiraGTx 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 sale, the insider directly owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 145,659 shares of company stock worth $1,969,233. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds have recently added to or reduced their stakes in MGTX. AQR Capital Management LLC acquired a new position in shares of MeiraGTx during the 1st quarter worth about $557,000. Rhumbline Advisers raised its position in shares of MeiraGTx by 9.4% in the 2nd quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock valued at $415,000 after acquiring an additional 5,488 shares during the period. Brown Advisory Inc. acquired a new stake in shares of MeiraGTx in the 2nd quarter valued at approximately $326,000. Qube Research & Technologies Ltd bought a new position in MeiraGTx during the 2nd quarter worth approximately $530,000. Finally, Quantinno Capital Management LP bought a new position in MeiraGTx during the 2nd quarter worth approximately $319,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

MeiraGTx Price Performance

MGTX opened at $12.79 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 18.01 and a beta of 1.27. The firm’s 50-day simple moving average is $13.20 and its 200-day simple moving average is $10.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.76 and a current ratio of 3.76. MeiraGTx has a twelve month low of $6.62 and a twelve month high of $15.35.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings results on Thursday, August 13th. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. The business had revenue of $321.43 million for the quarter, compared to analyst estimates of $0.70 million. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%. Equities research analysts anticipate that MeiraGTx will post 0.3 EPS for the current fiscal year.

About MeiraGTx

MeiraGTx Holdings plc is a clinical-stage biotechnology company focused on developing gene therapies for serious diseases with limited treatment options. The company uses adeno-associated virus (AAV) vectors and other genetic medicine technologies to deliver therapeutic genes to targeted tissues, with an emphasis on disorders affecting the central nervous system, the eye and other organs.

MeiraGTx’s pipeline has included botaretigene sparoparvovec, an investigational AAV-based gene therapy for X-linked retinitis pigmentosa caused by mutations in the RPGR gene.