MeiraGTx (NASDAQ:MGTX) Issues Earnings Results, Misses Estimates By $0.45 EPS

MeiraGTx (NASDAQ:MGTX) posted its quarterly earnings results on Monday. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.45), Zacks reports. The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $16.38 million. MeiraGTx had a negative net margin of 651.19% and a negative return on equity of 122.82%.

MeiraGTx Stock Up 10.5 %

Shares of MGTX traded up $0.42 during mid-day trading on Thursday, reaching $4.42. 142,570 shares of the stock traded hands, compared to its average volume of 170,741. The stock has a fifty day simple moving average of $4.48 and a 200 day simple moving average of $5.28. The firm has a market cap of $284.24 million, a price-to-earnings ratio of -3.73 and a beta of 1.33. MeiraGTx has a 12-month low of $3.49 and a 12-month high of $7.60. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.69.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MGTX. Royal Bank of Canada decreased their target price on MeiraGTx from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday. Chardan Capital reissued a “buy” rating and issued a $36.00 price objective on shares of MeiraGTx in a research report on Wednesday, July 31st.

Insider Buying and Selling

In other news, Director Perceptive Advisors Llc acquired 1,250,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $5,000,000.00. Following the acquisition, the director now directly owns 12,531,103 shares of the company’s stock, valued at approximately $50,124,412. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.40% of the stock is currently owned by 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.