MeiraGTx (NASDAQ:MGTX) Posts Earnings Results, Misses Expectations By $0.02 EPS

MeiraGTx (NASDAQ:MGTX) issued its quarterly earnings results on Thursday. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02), Zacks reports. MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%.

MeiraGTx Stock Up 22.6 %

MGTX stock traded up $1.45 during mid-day trading on Thursday, hitting $7.86. The stock had a trading volume of 2,976,495 shares, compared to its average volume of 247,712. MeiraGTx has a 1-year low of $3.85 and a 1-year high of $8.37. The company has a fifty day moving average of $6.47 and a 200 day moving average of $5.77. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $614.36 million, a price-to-earnings ratio of -6.56, a PEG ratio of 0.37 and a beta of 1.23.

Insider Activity

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Chardan Capital restated a “buy” rating and set a $36.00 price objective on shares of MeiraGTx in a research 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.