MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Consensus Rating of “Buy” from Brokerages

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have earned a consensus rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $26.1667.

A number of brokerages recently weighed in on MGTX. Piper Sandler lifted their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Zacks Research raised shares of MeiraGTx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of MeiraGTx in a research report on Wednesday, July 8th. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada boosted their price target on MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday.

MeiraGTx Trading Up 1.8%

Shares of NASDAQ MGTX opened at $13.77 on Thursday. MeiraGTx has a fifty-two week low of $6.62 and a fifty-two week high of $15.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.76 and a current ratio of 3.76. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 19.39 and a beta of 1.23. The business’s 50 day moving average price is $12.18 and its 200-day moving average price is $9.87.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $2.17. MeiraGTx had a return on equity of 283.85% and a net margin of 19.87%.The company had revenue of $321.43 million during the quarter, compared to analysts’ expectations of $0.70 million. On average, sell-side analysts expect that MeiraGTx will post -0.48 earnings per share for the current year.

Insiders Place Their Bets

In other MeiraGTx news, 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 transaction of $409,353.20. Following the completion of the sale, the insider directly owned 640,846 shares of the company’s stock, valued at $9,484,520.80. The trade was a 4.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total value of $700,560.00. Following the completion of the sale, the chief financial officer owned 908,530 shares of the company’s stock, valued at $11,365,710.30. This represents a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Several large investors have recently modified their holdings of MGTX. Perceptive Advisors LLC increased its holdings in MeiraGTx by 0.4% during the second quarter. Perceptive Advisors LLC now owns 12,626,103 shares of the company’s stock valued at $82,231,000 after buying an additional 45,000 shares during the period. Rubric Capital Management LP boosted its position in MeiraGTx by 13.4% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock valued at $60,620,000 after acquiring an additional 824,669 shares in the last quarter. Johnson & Johnson bought a new stake in MeiraGTx during the 2nd quarter valued at $89,720,775,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of MeiraGTx by 7.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock valued at $39,345,000 after acquiring an additional 400,000 shares during the period. Finally, BlackRock Inc. purchased a new position in shares of MeiraGTx in the 2nd quarter valued at $64,269,000. Institutional investors own 67.48% of the company’s stock.

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.