Chardan Capital Forecasts MeiraGTx FY2025 Earnings

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

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data 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 net margin of 633.05% and a negative return on equity of 146.38%. The firm had revenue of $21.39 million during the quarter, compared to analyst estimates of $1.50 million.

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

MeiraGTx Stock Down 7.2 %

MGTX opened at $7.23 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. MeiraGTx has a 12 month low of $3.85 and a 12 month high of $8.75. The stock has a market capitalization of $570.12 million, a P/E ratio of -5.98, a P/E/G ratio of 0.37 and a beta of 1.23. The business has a 50 day simple moving average of $6.78 and a 200-day simple moving average of $6.02.

Insiders Place Their Bets

In related 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 sale, the chief financial officer now 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 legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $231,878.33. Following the completion of the transaction, the chief executive officer now directly owns 1,395,102 shares of the company’s stock, valued at $9,026,309.94. The trade was 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.

Hedge Funds Weigh In On MeiraGTx

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

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.