MeiraGTx (NASDAQ:MGTX) Releases Quarterly Earnings Results

MeiraGTx (NASDAQ:MGTX) issued 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 business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $16.38 million. MeiraGTx had a negative net margin of 651.19% and a negative return on equity of 122.82%.

MeiraGTx Price Performance

Shares of NASDAQ MGTX traded down $0.22 during trading hours on Wednesday, reaching $4.00. 191,798 shares of the stock traded hands, compared to its average volume of 170,850. The company has a market capitalization of $257.23 million, a P/E ratio of -3.61 and a beta of 1.33. The company’s 50-day simple moving average is $4.50 and its two-hundred day simple moving average is $5.29. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.69. MeiraGTx has a 52-week low of $3.49 and a 52-week high of $7.60.

Wall Street Analyst Weigh In

MGTX has been the subject of several research analyst reports. Royal Bank of Canada dropped their target price on shares of MeiraGTx from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday. Chardan Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of MeiraGTx in a report on Wednesday, July 31st.

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.