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

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. MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%.

MeiraGTx Stock Performance

NASDAQ:MGTX 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 52 week low of $3.85 and a 52 week high of $8.37. 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 P/E/G ratio of 0.37 and a beta of 1.23. The company has a 50 day simple moving average of $6.47 and a 200-day simple moving average of $5.77.

Analysts Set New Price Targets

MGTX has been the topic of a number of recent analyst reports. 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 report on Thursday, November 14th. Chardan Capital reiterated a “buy” rating and set a $36.00 target price on shares of MeiraGTx in a research note on Monday, February 24th.

Insider Buying and Selling at MeiraGTx

In other news, CFO Richard Giroux sold 24,000 shares of the business’s 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 owns 849,947 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexandria Forbes sold 35,839 shares of the firm’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 transaction, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, 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 company 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.