MeiraGTx (NASDAQ:MGTX) Reaches New 12-Month High – What’s Next?

MeiraGTx Holdings plc (NASDAQ:MGTX)’s share price hit a new 52-week high on Thursday . The company traded as high as $8.49 and last traded at $7.52, with a volume of 2075054 shares. The stock had previously closed at $6.41.

Analyst Ratings Changes

A number of analysts have recently weighed in on MGTX shares. Chardan Capital restated a “buy” rating and issued a $36.00 price objective on shares of MeiraGTx in a research note on Monday, February 24th. Royal Bank of Canada boosted their price objective on shares of MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

MeiraGTx Trading Up 25.7 %

The company has a market cap of $629.84 million, a price-to-earnings ratio of -6.57, a PEG ratio of 0.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The business’s 50 day moving average price is $6.47 and its 200-day moving average price is $5.77.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. On average, research analysts forecast that MeiraGTx Holdings plc will post -1.48 EPS for the current year.

Insider Transactions at MeiraGTx

In other news, CEO Alexandria Forbes sold 35,839 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total value of $231,878.33. Following the sale, the chief executive officer now owns 1,395,102 shares of the company’s stock, valued at approximately $9,026,309.94. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total transaction of $150,960.00. Following the completion of the sale, the chief financial officer now directly owns 849,947 shares in the company, valued at approximately $5,346,166.63. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On MeiraGTx

Large investors have recently made changes to their positions in the company. Sanofi bought a new stake in MeiraGTx during the 4th quarter worth about $74,284,000. Woodline Partners LP bought a new stake in MeiraGTx during the 4th quarter worth about $9,349,000. Knoll Capital Management LLC bought a new stake in MeiraGTx during the 3rd quarter worth about $5,212,000. Royce & Associates LP grew its holdings in MeiraGTx by 5.3% during the 3rd quarter. Royce & Associates LP now owns 795,392 shares of the company’s stock worth $3,317,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in MeiraGTx during the 3rd quarter worth about $2,795,000. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Company Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.