Chardan Capital Forecasts MeiraGTx FY2025 Earnings

MeiraGTx Holdings plc (NASDAQ:MGTX) – Equities research analysts at Chardan Capital issued their FY2025 earnings estimates for MeiraGTx in a report issued on Monday, March 24th. Chardan Capital analyst D. Gataulin anticipates that the company will earn $0.25 per share for the year. Chardan Capital has a “Buy” rating and a $36.00 price objective on the stock. The consensus estimate for MeiraGTx’s current full-year earnings is ($1.48) per share.

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

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

MeiraGTx Stock Up 1.3 %

NASDAQ MGTX opened at $7.79 on Wednesday. MeiraGTx has a 52 week low of $3.85 and a 52 week high of $8.75. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $614.28 million, a P/E ratio of -6.44, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23. The stock’s 50-day moving average price is $6.75 and its 200-day moving average price is $6.01.

Hedge Funds Weigh In On MeiraGTx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its stake in MeiraGTx by 106.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock worth $30,000 after purchasing an additional 2,515 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock worth $30,000 after buying an additional 2,016 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in MeiraGTx by 142.5% during the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock valued at $39,000 after buying an additional 5,476 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in MeiraGTx during the 4th quarter valued at approximately $88,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in MeiraGTx by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company’s stock worth $101,000 after acquiring an additional 1,685 shares during the last quarter. Institutional investors own 67.48% of the company’s stock.

Insiders Place Their Bets

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the company’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 value of $150,960.00. Following the completion of the transaction, the chief financial officer now directly owns 849,947 shares in the company, valued at $5,346,166.63. This represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alexandria Forbes sold 35,839 shares of the 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 sale, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, valued at approximately $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.40% of the stock is currently 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.