MeiraGTx (NASDAQ:MGTX) Rating Increased to Hold at ValuEngine

MeiraGTx (NASDAQ:MGTX) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

A number of other research firms have also weighed in on MGTX. Chardan Capital reissued a “buy” rating and set a $45.00 target price on shares of MeiraGTx in a report on Monday, September 23rd. Piper Jaffray Companies started coverage on MeiraGTx in a report on Tuesday, September 3rd. They set an “overweight” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.75.

MGTX stock opened at $14.36 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.22 and a quick ratio of 5.22. MeiraGTx has a 1-year low of $8.53 and a 1-year high of $30.23. The business’s 50 day simple moving average is $18.44 and its 200 day simple moving average is $21.43.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.47). The company had revenue of $1.98 million during the quarter. As a group, analysts anticipate that MeiraGTx will post -2.47 earnings per share for the current fiscal year.

In other MeiraGTx news, Director Life Sciences Maste Perceptive bought 425,531 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $23.50 per share, with a total value of $9,999,978.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in MeiraGTx by 2,008.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 171,168 shares of the company’s stock valued at $4,338,000 after purchasing an additional 163,050 shares during the period. Panagora Asset Management Inc. bought a new stake in MeiraGTx in the 2nd quarter valued at $1,029,000. Bank of New York Mellon Corp boosted its stake in MeiraGTx by 57.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,489 shares of the company’s stock valued at $1,168,000 after purchasing an additional 15,818 shares during the period. CIBC Private Wealth Group LLC bought a new stake in MeiraGTx in the 2nd quarter valued at $516,000. Finally, Focused Wealth Management Inc bought a new stake in MeiraGTx in the 2nd quarter valued at $57,000. Institutional investors and hedge funds own 37.41% of the company’s stock.

About MeiraGTx

MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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