MeiraGTx (NASDAQ:MGTX) Announces Earnings Results

MeiraGTx (NASDAQ:MGTX) released its quarterly earnings data on Thursday. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02), Zacks reports. The company had revenue of $21.39 million during the quarter, compared to analysts’ expectations of $1.50 million. MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%.

MeiraGTx Stock Performance

Shares of MGTX stock opened at $7.79 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $8.75. The business’s 50 day moving average is $6.54 and its two-hundred day moving average is $5.81. The company has a market capitalization of $608.81 million, a P/E ratio of -6.44, a P/E/G ratio of 0.37 and a beta of 1.23.

Insider Activity

In related news, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value of $150,960.00. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Alexandria Forbes sold 35,839 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

Analyst Ratings Changes

Separately, Chardan Capital reissued a “buy” rating and set a $36.00 price target on shares of MeiraGTx in a report on Monday, February 24th.

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.