MeiraGTx (MGTX) Projected to Post Quarterly Earnings on Thursday

MeiraGTx (NASDAQ:MGTX) is expected to be posting its quarterly earnings results before the market opens on Thursday, March 13th. Analysts expect MeiraGTx to post earnings of ($0.48) per share and revenue of $1.50 million for the quarter.

MeiraGTx Stock Performance

NASDAQ:MGTX opened at $6.10 on Wednesday. MeiraGTx has a twelve month low of $3.85 and a twelve month high of $7.80. 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 company has a 50-day moving average of $6.47 and a 200-day moving average of $5.76. The firm has a market cap of $476.73 million, a price-to-earnings ratio of -5.04, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Chardan Capital restated a “buy” rating and set a $36.00 price objective on shares of MeiraGTx in a research report 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 stock an “outperform” rating in a report on Thursday, November 14th.

Insiders Place Their Bets

In related news, CEO Alexandria Forbes sold 35,839 shares of the firm’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 transaction 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 approximately $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.

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.