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

MeiraGTx (NASDAQ:MGTXGet Free Report) released 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 return on equity of 146.38% and a negative net margin of 633.05%.

MeiraGTx Trading Down 5.6 %

MeiraGTx stock opened at $7.79 on Friday. The firm’s 50-day moving average is $6.54 and its 200-day moving average is $5.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. MeiraGTx has a 1 year low of $3.85 and a 1 year high of $8.75. The company has a market cap of $608.81 million, a P/E ratio of -6.44, a PEG ratio of 0.37 and a beta of 1.23.

Insider Transactions at MeiraGTx

In related news, CEO Alexandria Forbes sold 35,839 shares of MeiraGTx 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 sale, the chief executive officer now directly owns 1,395,102 shares in the company, valued at $9,026,309.94. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.29, for a total transaction of $150,960.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Chardan Capital reiterated a “buy” rating and set a $36.00 price objective on shares of MeiraGTx in a research note on Monday, February 24th.

Get Our Latest Analysis on MGTX

MeiraGTx Company Profile

(Get Free Report)

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.

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Earnings History for MeiraGTx (NASDAQ:MGTX)

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