MeiraGTx Holdings PLC (NASDAQ:MGTX) Stock Has Consensus Price Target of $24.71 According to Analysts

by · The Markets Daily

MeiraGTx Holdings PLC (NASDAQ:MGTX – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $24.71.

Several research firms recently issued reports on MGTX. The Goldman Sachs Group assumed coverage on MeiraGTx in a research note on Thursday, September 24th. They issued a “neutral” rating and a $16.00 price target for the company. Wall Street Zen lowered shares of MeiraGTx from a “buy” rating to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings raised shares of MeiraGTx from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of MeiraGTx in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada increased their target price on shares of MeiraGTx from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th.

View Our Latest Research Report on MGTX

MeiraGTx Stock Performance

MGTX opened at $10.79 on Friday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 15.20 and a beta of 1.35. The business’s 50-day moving average price is $12.92 and its two-hundred day moving average price is $11.20. MeiraGTx has a 1 year low of $6.62 and a 1 year high of $15.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.76 and a quick ratio of 3.76.

MeiraGTx (NASDAQ:MGTX – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $2.17. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. The company had revenue of $321.43 million during the quarter, compared to analysts’ expectations of $0.70 million. Equities analysts expect that MeiraGTx will post 0.3 EPS for the current fiscal year.

Insider Activity at MeiraGTx

In other news, insider Stuart Naylor sold 27,659 shares of the company’s 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 in the company, valued at approximately $9,484,520.80. This represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total value of $700,560.00. Following the completion of the transaction, the chief financial officer directly owned 908,530 shares of the company’s stock, valued at approximately $11,365,710.30. This trade represents a 5.81% 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. Over the last ninety days, insiders sold 145,659 shares of company stock worth $1,969,233. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds and other institutional investors have recently made changes to their positions in MGTX. Algert Global LLC boosted its holdings in shares of MeiraGTx by 13.9% in the 2nd quarter. Algert Global LLC now owns 11,700 shares of the company’s stock valued at $158,000 after purchasing an additional 1,430 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of MeiraGTx during the 4th quarter worth $94,000. Bank of Nova Scotia acquired a new position in shares of MeiraGTx during the 1st quarter worth $105,000. Perigon Wealth Management LLC acquired a new position in shares of MeiraGTx during the 2nd quarter worth $203,000. Finally, Arizona State Retirement System bought a new stake in shares of MeiraGTx during the 2nd quarter worth $207,000. 67.48% of the stock is currently owned by institutional investors and hedge funds.

MeiraGTx Company Profile

(Get Free Report)

MeiraGTx Holdings plc (NASDAQ:MGTX) is a clinical-stage biotechnology company developing gene therapy and ribonucleic acid (RNA) medicines for diseases with significant unmet medical needs. Its research focuses primarily on the central nervous system, immune-mediated conditions and disorders affecting salivary gland function.

The company’s technology platforms are designed to deliver therapeutic genes or regulate gene expression in targeted tissues. Its investigational programs have included gene therapies for Parkinson’s disease and radiation-induced xerostomia, a condition involving chronic dry mouth after cancer treatment.

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