Chardan Capital Forecasts MeiraGTx FY2025 Earnings

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

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

MeiraGTx Stock Up 1.3 %

Shares of MeiraGTx stock opened at $7.79 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.86. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $8.75. The company has a market cap of $614.28 million, a P/E ratio of -6.44, a PEG ratio of 0.37 and a beta of 1.23. The company’s fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $6.01.

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

Institutional Investors Weigh In On MeiraGTx

Several institutional investors have recently modified their holdings of the business. Sanofi bought a new position in MeiraGTx during the 4th quarter valued at about $74,284,000. Woodline Partners LP bought a new position in MeiraGTx during the fourth quarter valued at approximately $9,349,000. Knoll Capital Management LLC purchased a new stake in MeiraGTx in the third quarter worth approximately $5,212,000. Erste Asset Management GmbH purchased a new stake in MeiraGTx in the third quarter worth approximately $2,795,000. Finally, State Street Corp grew its position in MeiraGTx by 0.9% in the 3rd quarter. State Street Corp now owns 574,727 shares of the company’s stock worth $2,397,000 after purchasing an additional 5,251 shares during the period. 67.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MeiraGTx

In other news, 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 transaction, the chief executive officer now owns 1,395,102 shares in the company, valued at approximately $9,026,309.94. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Giroux sold 24,000 shares of the firm’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 transaction 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 trade 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.

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.