MeiraGTx Holdings PLC (MGTX) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - MeiraGTx Holdings PLC reported a quarterly loss of $0.54 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.47, representing an earnings surprise of -14.89% [1] - The company posted revenues of $10.91 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 4,264%, compared to revenues of $5.1 million in the same quarter last year [2] - Over the last four quarters, MeiraGTx has not surpassed consensus EPS estimates and has topped consensus revenue estimates only once [2] Stock Performance - MeiraGTx shares have declined approximately 5.1% since the beginning of the year, while the S&P 500 has gained 25.5% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.48 on $0.25 million in revenues, and -$0.63 on $1.48 million in revenues for the current fiscal year [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which MeiraGTx belongs, is currently ranked in the top 26% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]