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

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $26.00.

Several equities research analysts have weighed in on the company. Wall Street Zen cut MeiraGTx from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright initiated coverage on MeiraGTx in a report on Monday, November 24th. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and issued a $35.00 target price on shares of MeiraGTx in a research report on Tuesday, November 11th. Finally, Piper Sandler boosted their target price on MeiraGTx from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th.

Institutional Trading of MeiraGTx

A number of hedge funds have recently added to or reduced their stakes in MGTX. State of Alaska Department of Revenue acquired a new position in shares of MeiraGTx during the third quarter worth $33,000. BNP Paribas Financial Markets increased its holdings in MeiraGTx by 43.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after purchasing an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC raised its position in MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after purchasing an additional 7,005 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MeiraGTx during the second quarter valued at about $61,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of MeiraGTx during the second quarter valued at about $93,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

MeiraGTx Trading Down 0.3%

Shares of MeiraGTx stock opened at $7.74 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $9.73. The company has a market capitalization of $622.99 million, a price-to-earnings ratio of -3.67 and a beta of 1.38. The firm’s 50-day moving average price is $7.97 and its two-hundred day moving average price is $8.06.

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