MeiraGTx (NASDAQ:MGTX) Sets New 12-Month High – Still a Buy?

MeiraGTx Holdings plc (NASDAQ:MGTX)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.49 and last traded at $7.52, with a volume of 2075054 shares trading hands. The stock had previously closed at $6.41.

Wall Street Analysts Forecast Growth

MGTX has been the topic of a number of research reports. Chardan Capital restated a “buy” rating and set a $36.00 target price on shares of MeiraGTx in a research report on Monday, February 24th. Royal Bank of Canada boosted their target price on MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

MeiraGTx Price Performance

The company has a 50 day moving average price of $6.47 and a 200-day moving average price of $5.77. 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 cap of $629.84 million, a price-to-earnings ratio of -6.57, a P/E/G ratio of 0.37 and a beta of 1.23.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.02). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. As a group, equities research analysts predict that MeiraGTx Holdings plc will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the firm’s stock in a transaction dated 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 owns 849,947 shares in the company, valued at $5,346,166.63. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexandria Forbes sold 35,839 shares of MeiraGTx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total value of $231,878.33. Following the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Institutional Trading of MeiraGTx

A number of large investors have recently modified their holdings of MGTX. Summit Investment Advisors Inc. boosted its position in shares of MeiraGTx by 106.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock valued at $30,000 after acquiring an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in MeiraGTx by 68.1% in the 4th 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 during the last quarter. BNP Paribas Financial Markets lifted its position in MeiraGTx by 142.5% in the 3rd 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 during the last quarter. Polymer Capital Management US LLC bought a new stake in MeiraGTx in the 4th quarter worth approximately $88,000. Finally, China Universal Asset Management Co. Ltd. lifted its position 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 buying an additional 1,685 shares during the last quarter. Institutional investors own 67.48% 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.