MeiraGTx (NASDAQ:MGTX) Posts Earnings Results, Misses Estimates By $0.02 EPS

MeiraGTx (NASDAQ:MGTX) issued its quarterly earnings data on Thursday. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.02), Zacks reports. MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. The business had revenue of $21.39 million for the quarter, compared to analysts’ expectations of $1.50 million.

MeiraGTx Trading Down 5.6 %

NASDAQ MGTX opened at $7.79 on Friday. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $8.75. The company has a fifty day simple moving average of $6.54 and a two-hundred day simple moving average of $5.81. 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 stock has a market cap of $608.81 million, a P/E ratio of -6.44, a P/E/G ratio of 0.37 and a beta of 1.23.

Analysts Set New Price Targets

Separately, Chardan Capital reiterated a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th.

Insider Activity

In other MeiraGTx news, CEO Alexandria Forbes sold 35,839 shares of MeiraGTx 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. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.29, for a total transaction of $150,960.00. Following the completion of the sale, the chief financial officer now directly owns 849,947 shares in the company, valued at $5,346,166.63. This trade 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.