Brokers Issue Forecasts for MeiraGTx FY2025 Earnings

MeiraGTx Holdings plc (NASDAQ:MGTX) – Chardan Capital issued their FY2025 earnings per share (EPS) estimates for MeiraGTx in a note issued to investors on Monday, March 24th. Chardan Capital analyst D. Gataulin expects that the company will post earnings of $0.25 per share for the year. Chardan Capital has a “Buy” rating and a $36.00 price objective on the stock. The consensus estimate for MeiraGTx’s current full-year earnings is ($1.48) per share.

Separately, Royal Bank of Canada lifted their target price on MeiraGTx from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Monday, March 17th.

MeiraGTx Stock Performance

Shares of MGTX stock opened at $7.39 on Wednesday. MeiraGTx has a 52 week low of $3.85 and a 52 week high of $8.75. The firm has a 50 day moving average of $6.81 and a two-hundred day moving average of $6.03. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $582.74 million, a PE ratio of -6.11, a P/E/G ratio of 0.37 and a beta of 1.23.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The business had revenue of $21.39 million during the quarter, compared to analysts’ expectations of $1.50 million.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sanofi purchased a new stake in MeiraGTx in the fourth quarter valued at $74,284,000. Woodline Partners LP acquired a new stake in shares of MeiraGTx during the fourth quarter worth about $9,349,000. Knoll Capital Management LLC acquired a new stake in shares of MeiraGTx in the 3rd quarter valued at about $5,212,000. Erste Asset Management GmbH acquired a new stake in shares of MeiraGTx in the 3rd quarter valued at about $2,795,000. Finally, Garden State Investment Advisory Services LLC acquired a new stake in shares of MeiraGTx in the 3rd quarter valued at about $1,636,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Richard Giroux sold 24,000 shares of the 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 transaction, the chief financial officer now owns 849,947 shares in the company, valued at approximately $5,346,166.63. This represents a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Alexandria Forbes sold 35,839 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total value of $231,878.33. Following the completion of the transaction, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, valued at $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. 8.40% of the stock is owned by insiders.

About MeiraGTx

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.