MeiraGTx Holdings PLC (NASDAQ:MGTX) Given Consensus Rating of “Moderate Buy” by Analysts

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.00.

MGTX has been the topic of a number of research reports. Chardan Capital reissued a “buy” rating and set a $35.00 target price on shares of MeiraGTx in a report on Tuesday, November 11th. Royal Bank Of Canada lifted their price target on shares of MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Raymond James Financial assumed coverage on MeiraGTx in a report on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price objective for the company. Wall Street Zen lowered MeiraGTx from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday.

MeiraGTx Stock Performance

Shares of MGTX stock opened at $8.10 on Friday. The firm has a market capitalization of $651.97 million, a price-to-earnings ratio of -3.84 and a beta of 1.38. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. The business’s 50-day moving average price is $7.95 and its 200-day moving average price is $8.08. MeiraGTx has a 12 month low of $4.55 and a 12 month high of $9.73.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.12). The business had revenue of $0.41 million during the quarter, compared to the consensus estimate of $7.71 million. MeiraGTx had a negative net margin of 615.27% and a negative return on equity of 1,065.47%. Equities research analysts forecast that MeiraGTx will post -1.48 EPS for the current year.

Institutional Trading of MeiraGTx

Several institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in MeiraGTx during the 3rd quarter valued at approximately $33,000. BNP Paribas Financial Markets boosted its stake in shares of MeiraGTx by 43.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after purchasing an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of MeiraGTx by 390.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after purchasing an additional 7,005 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MeiraGTx during the second quarter worth $61,000. Finally, Hobbs Group Advisors LLC bought a new position in MeiraGTx during the second quarter worth $93,000. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Company Profile

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx’s pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company’s lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.