Zacks: MeiraGTx Holdings PLC (NASDAQ:MGTX) Given $33.00 Consensus Target Price by Brokerages

MeiraGTx Holdings PLC (NASDAQ:MGTX) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price objective of $33.00 for the company, according to Zacks. Zacks has also assigned MeiraGTx an industry rank of 62 out of 256 based on the ratings given to its competitors.

Several research analysts have recently commented on the stock. Barclays restated a “hold” rating on shares of Mettler-Toledo International in a research note on Wednesday, May 15th. Chardan Capital set a $25.00 price target on shares of Tocagen and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Zacks Investment Research upgraded shares of Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

Several institutional investors and hedge funds have recently made changes to their positions in MGTX. SG Americas Securities LLC purchased a new stake in shares of MeiraGTx during the 4th quarter valued at $138,000. BlackRock Inc. grew its position in MeiraGTx by 23.5% in the 4th quarter. BlackRock Inc. now owns 178,769 shares of the company’s stock worth $1,723,000 after purchasing an additional 34,070 shares during the last quarter. Northern Trust Corp grew its position in MeiraGTx by 51.7% in the 4th quarter. Northern Trust Corp now owns 40,913 shares of the company’s stock worth $395,000 after purchasing an additional 13,936 shares during the last quarter. Geode Capital Management LLC grew its position in MeiraGTx by 54.1% in the 4th quarter. Geode Capital Management LLC now owns 16,625 shares of the company’s stock worth $160,000 after purchasing an additional 5,834 shares during the last quarter. Finally, Sphera Funds Management LTD. bought a new position in MeiraGTx in the 4th quarter worth about $686,000. Institutional investors own 35.28% of the company’s stock.

Shares of MGTX traded down $0.33 during mid-day trading on Friday, hitting $29.07. 1,265 shares of the company’s stock were exchanged, compared to its average volume of 213,611. The firm’s fifty day simple moving average is $23.73. MeiraGTx has a twelve month low of $7.98 and a twelve month high of $30.23. The firm has a market capitalization of $981.60 million and a PE ratio of -6.64. The company has a current ratio of 6.96, a quick ratio of 6.96 and a debt-to-equity ratio of 0.02.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.62) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.02. The business had revenue of $0.79 million for the quarter.

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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