MeiraGTx (NASDAQ:MGTX) Announces Earnings Results

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

MeiraGTx Stock Performance

Shares of NASDAQ MGTX traded down $0.22 during trading hours on Wednesday, reaching $4.00. 191,798 shares of the stock were exchanged, compared to its average volume of 170,850. The firm has a market capitalization of $257.23 million, a price-to-earnings ratio of -3.61 and a beta of 1.33. The stock’s fifty day simple moving average is $4.50 and its 200 day simple moving average is $5.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.14 and a current ratio of 3.14. MeiraGTx has a 52 week low of $3.49 and a 52 week high of $7.60.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGTX shares. Chardan Capital restated a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a research note on Wednesday, July 31st. Royal Bank of Canada dropped their price objective on shares of MeiraGTx from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday.

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.