Zacks Research Upgrades MeiraGTx (NASDAQ:MGTX) to “Hold”

MeiraGTx (NASDAQ:MGTX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Chardan Capital reiterated a “buy” rating and issued a $35.00 price objective on shares of MeiraGTx in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Piper Sandler increased their target price on shares of MeiraGTx from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada boosted their price target on MeiraGTx from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

MeiraGTx Stock Up 5.3%

MGTX opened at $7.76 on Monday. MeiraGTx has a 12 month low of $4.55 and a 12 month high of $9.73. 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 $7.59 and its 200-day moving average price is $7.94. The company has a market cap of $624.60 million, a P/E ratio of -3.68 and a beta of 1.37.

Institutional Trading of MeiraGTx

A number of hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in shares of MeiraGTx in the 3rd quarter worth about $33,000. BNP Paribas Financial Markets boosted its stake in MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after acquiring an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after acquiring an additional 7,005 shares in the last quarter. ProShare Advisors LLC purchased a new stake in MeiraGTx in the fourth quarter worth about $94,000. Finally, Abel Hall LLC bought a new position in shares of MeiraGTx during the fourth quarter valued at approximately $98,000. Institutional investors own 67.48% of the company’s stock.

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.