Brokerages Set MeiraGTx Holdings PLC (NASDAQ:MGTX) Target Price at $26.00

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.00.

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a report on Wednesday, October 8th. HC Wainwright assumed coverage on shares of MeiraGTx in a research report on Monday, November 24th. They issued a “buy” rating and a $20.00 price objective for the company. Raymond James Financial began coverage on shares of MeiraGTx in a report on Tuesday, October 21st. They set a “strong-buy” rating and a $29.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $35.00 price target on shares of MeiraGTx in a report on Tuesday, November 11th. Finally, Piper Sandler boosted their price target on shares of MeiraGTx from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th.

Insiders Place Their Bets

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $8.87, for a total value of $212,880.00. Following the sale, the chief financial officer owned 829,494 shares of the company’s stock, valued at $7,357,611.78. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MGTX. BNP Paribas Financial Markets lifted its position in MeiraGTx by 43.8% during the second 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. State of Alaska Department of Revenue purchased a new stake in shares of MeiraGTx during the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of MeiraGTx by 390.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after acquiring an additional 7,005 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in MeiraGTx in the second quarter worth $61,000. Finally, Ieq Capital LLC bought a new position in MeiraGTx in the first quarter valued at $83,000. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Stock Down 0.5%

MeiraGTx stock opened at $7.51 on Wednesday. The firm has a 50 day simple moving average of $8.22 and a 200 day simple moving average of $8.03. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. MeiraGTx has a 1-year low of $4.55 and a 1-year high of $9.73. The firm has a market capitalization of $604.48 million, a price-to-earnings ratio of -3.56 and a beta of 1.38.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.12). MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%.The company had revenue of $0.41 million during the quarter, compared to the consensus estimate of $7.71 million. On average, analysts predict that MeiraGTx will post -1.48 earnings per share for the current year.

About MeiraGTx

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.