MeiraGTx Holdings PLC (MGTX) – What Are Brokerages Thinking About This Stock?

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $24.00.

A number of equities analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on MeiraGTx in a report on Thursday, September 24th. They issued a “neutral” rating and a $16.00 price objective for the company. Royal Bank Of Canada boosted their target price on shares of MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Zacks Research downgraded shares of MeiraGTx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, Weiss Ratings upgraded shares of MeiraGTx from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th.

Insider Activity at MeiraGTx

In other MeiraGTx news, insider Stuart Naylor sold 27,659 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $10.64, for a total value of $294,291.76. Following the sale, the insider owned 613,187 shares in the company, valued at approximately $6,524,309.68. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CEO Alexandria Forbes sold 62,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $13.86, for a total transaction of $859,320.00. Following the completion of the sale, the chief executive officer owned 1,325,695 shares in the company, valued at approximately $18,374,132.70. This trade represents a 4.47% 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. Insiders sold a total of 145,659 shares of company stock valued at $1,710,812 in the last three months. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in MeiraGTx during the 3rd quarter valued at approximately $54,000. State of Wyoming purchased a new position in MeiraGTx during the third quarter valued at $301,000. China Universal Asset Management Co. Ltd. raised its stake in MeiraGTx by 62.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 23,924 shares of the company’s stock valued at $266,000 after buying an additional 9,185 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in MeiraGTx during the third quarter valued at $2,479,000. Finally, Opaleye Management Inc. boosted its holdings in MeiraGTx by 67.2% in the second quarter. Opaleye Management Inc. now owns 3,550,000 shares of the company’s stock worth $47,960,000 after acquiring an additional 1,426,741 shares in the last quarter. 67.48% of the stock is currently owned by hedge funds and other institutional investors.

MeiraGTx Stock Down 2.2%

MGTX stock opened at $9.49 on Tuesday. MeiraGTx has a fifty-two week low of $6.62 and a fifty-two week high of $15.35. The company has a market capitalization of $911.42 million, a price-to-earnings ratio of 13.37 and a beta of 1.35. The business’s 50 day moving average price is $11.71 and its two-hundred day moving average price is $10.29. 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 (NASDAQ:MGTX) last released its earnings results on Thursday, August 13th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $2.17. The company had revenue of $321.43 million during the quarter, compared to analysts’ expectations of $0.70 million. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%. As a group, analysts forecast that MeiraGTx will post 0.30 earnings per share 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 and address the underlying causes of disease.

Its research and development activities have focused primarily on disorders of the central nervous system, including neurodegenerative diseases, as well as retinal and salivary-gland conditions.