Key Points
- CFO Richard Giroux sold 56,000 MeiraGTx shares at an average price of $9.95, generating $557,200. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 6.16%.
- MeiraGTx reported quarterly earnings of $1.71 per share, beating estimates by $2.17, alongside $321.43 million in revenue. The stock opened at $9.97, with a market capitalization of approximately $957.6 million.
- Analysts maintain a generally positive outlook, with five Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $24.00. Institutional investors own 67.48% of the company.
MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) CFO Richard Giroux sold 56,000 shares of the business's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $9.95, for a total transaction of $557,200.00. Following the completion of the sale, the chief financial officer directly owned 852,530 shares of the company's stock, valued at approximately $8,482,673.50. The trade was a 6.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MeiraGTx Trading Up 5.5%
MGTX stock opened at $9.97 on Wednesday. MeiraGTx Holdings PLC has a 52 week low of $6.62 and a 52 week high of $15.35. The company has a market capitalization of $957.55 million, a PE ratio of 14.04 and a beta of 1.35. The company's 50-day simple moving average is $12.39 and its 200 day simple moving average is $11.40. 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 - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $321.43 million during the quarter, compared to analysts' expectations of $0.70 million. MeiraGTx had a net margin of 19.87% and a return on equity of 283.85%. As a group, sell-side analysts anticipate that MeiraGTx Holdings PLC will post 0.30 earnings per share for the current year.
Institutional Investors Weigh In On MeiraGTx
Several institutional investors and hedge funds have recently bought and sold shares of MGTX. Algert Global LLC grew its stake in MeiraGTx by 13.9% during the second quarter. Algert Global LLC now owns 11,700 shares of the company's stock worth $158,000 after buying an additional 1,430 shares in the last quarter. Bank of Nova Scotia bought a new position in MeiraGTx in the 1st quarter valued at about $105,000. Perigon Wealth Management LLC bought a new position in MeiraGTx in the 2nd quarter valued at about $203,000. Arizona State Retirement System acquired a new position in MeiraGTx during the second quarter valued at approximately $207,000. Finally, The Manufacturers Life Insurance Company acquired a new position in MeiraGTx during the second quarter valued at approximately $230,000. Institutional investors own 67.48% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on MGTX. The Goldman Sachs Group initiated coverage on shares of MeiraGTx in a research report on Thursday, September 24th. They issued a "neutral" rating and a $16.00 price target for the company. 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 research note on Friday, August 14th. HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of MeiraGTx in a research report on Wednesday, July 8th. Zacks Research lowered MeiraGTx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Finally, Weiss Ratings raised MeiraGTx from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.
View Our Latest Report on MeiraGTx
About MeiraGTx
(
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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