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

MeiraGTx (NASDAQ:MGTX) issued its quarterly earnings data on Thursday. The company reported ($0.50) earnings per share (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 Performance

Shares of MGTX traded up $1.72 during trading hours on Thursday, hitting $8.13. The company had a trading volume of 3,194,422 shares, compared to its average volume of 248,632. The firm has a market cap of $635.07 million, a price-to-earnings ratio of -6.65, a PEG ratio of 0.37 and a beta of 1.23. 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 business has a fifty day moving average of $6.47 and a 200-day moving average of $5.77. MeiraGTx has a 12 month low of $3.85 and a 12 month high of $8.37.

Insider Activity at MeiraGTx

In related news, CEO Alexandria Forbes sold 35,839 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,395,102 shares in the company, valued at $9,026,309.94. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of MeiraGTx stock in a transaction on 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 of the company’s stock, valued at $5,346,166.63. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. 8.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on MGTX. Chardan Capital reaffirmed a “buy” rating and set a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th. Royal Bank of Canada raised their target price on shares of MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th.

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.