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

MeiraGTx (NASDAQ:MGTX) announced 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 Stock Up 28.7 %

Shares of NASDAQ MGTX opened at $8.25 on Friday. 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 $644.76 million, a PE ratio of -6.82, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23. The stock’s fifty day simple moving average is $6.47 and its two-hundred day simple moving average is $5.77. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $8.49.

Wall Street Analyst Weigh In

MGTX has been the topic of several research analyst reports. Chardan Capital reissued a “buy” rating and issued a $36.00 price objective on shares of MeiraGTx in a research note on Monday, February 24th. Royal Bank of Canada increased their price objective on MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

Insider Buying and Selling at MeiraGTx

In other news, CEO Alexandria Forbes sold 35,839 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 849,947 shares of the company’s stock, valued at approximately $5,346,166.63. This represents 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.

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.