ValuEngine Upgrades MeiraGTx (NASDAQ:MGTX) to Hold

ValuEngine upgraded shares of MeiraGTx (NASDAQ:MGTX) from a sell rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently weighed in on the stock. Chardan Capital reiterated a buy rating and set a $45.00 price objective on shares of MeiraGTx in a research report on Monday, September 23rd. Piper Jaffray Companies assumed coverage on shares of MeiraGTx in a research report on Tuesday, September 3rd. They set an overweight rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. MeiraGTx presently has an average rating of Hold and a consensus target price of $33.75.

NASDAQ MGTX traded down $0.18 on Thursday, hitting $14.19. 184,653 shares of the stock were exchanged, compared to its average volume of 167,395. MeiraGTx has a 52-week low of $8.53 and a 52-week high of $30.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.22 and a quick ratio of 5.22. The company has a market capitalization of $475.02 million, a price-to-earnings ratio of -3.24 and a beta of 2.11. The company’s 50-day moving average price is $18.44 and its two-hundred day moving average price is $21.43.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.47). The business had revenue of $1.98 million for the quarter. Equities analysts predict that MeiraGTx will post -2.47 EPS for the current fiscal year.

In related news, Director Life Sciences Maste Perceptive purchased 425,531 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $23.50 per share, for a total transaction of $9,999,978.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Orbimed Advisors LLC grew its holdings in shares of MeiraGTx by 5.1% during the 2nd quarter. Orbimed Advisors LLC now owns 2,586,951 shares of the company’s stock valued at $69,537,000 after acquiring an additional 126,700 shares in the last quarter. Royal Bank of Canada purchased a new position in shares of MeiraGTx during the 2nd quarter valued at $614,000. Nuveen Asset Management LLC purchased a new position in shares of MeiraGTx during the 2nd quarter valued at $2,023,000. D. E. Shaw & Co. Inc. grew its holdings in shares of MeiraGTx by 64.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 23,947 shares of the company’s stock valued at $644,000 after acquiring an additional 9,341 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of MeiraGTx by 144.4% during the 2nd quarter. Bank of America Corp DE now owns 32,772 shares of the company’s stock valued at $882,000 after acquiring an additional 19,365 shares in the last quarter. Institutional investors and hedge funds own 37.41% of the company’s stock.

MeiraGTx Company Profile

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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