MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives $26.00 Average Price Target from Brokerages

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $26.00.

A number of equities research analysts have weighed in on MGTX shares. Wall Street Zen downgraded shares of MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a report on Thursday, January 22nd. Raymond James Financial started coverage on MeiraGTx in a report on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price target on the stock. Royal Bank Of Canada raised their price objective on MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Finally, HC Wainwright assumed coverage on MeiraGTx in a report on Monday, November 24th. They issued a “buy” rating and a $20.00 target price on the stock.

Hedge Funds Weigh In On MeiraGTx

A number of large investors have recently made changes to their positions in MGTX. BNP Paribas Financial Markets raised its holdings in shares of MeiraGTx by 43.8% during 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 in the last quarter. State of Alaska Department of Revenue acquired a new position in MeiraGTx during the third quarter worth $33,000. Tower Research Capital LLC TRC raised its holdings in MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after buying an additional 7,005 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of MeiraGTx in the second quarter worth about $61,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of MeiraGTx in the second quarter worth about $93,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX opened at $8.01 on Friday. The stock has a market capitalization of $644.72 million, a P/E ratio of -3.80 and a beta of 1.38. The firm’s 50-day moving average price is $7.96 and its two-hundred day moving average price is $8.07. MeiraGTx has a 52-week low of $4.55 and a 52-week high of $9.73. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29.

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

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.