MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Average Recommendation of “Strong Buy” from Brokerages

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price target of $42.50 for the company and are predicting that the company will post ($0.69) earnings per share for the current quarter, according to Zacks. Zacks has also assigned MeiraGTx an industry rank of 59 out of 255 based on the ratings given to its competitors.

MGTX has been the subject of a number of research analyst reports. Chardan Capital reiterated a “buy” rating and set a $45.00 price target on shares of MeiraGTx in a research report on Monday, September 23rd. Piper Jaffray Companies began coverage on shares of MeiraGTx in a research report on Tuesday, September 3rd. They issued an “overweight” rating and a $40.00 price objective on the stock. ValuEngine raised shares of MeiraGTx from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research upgraded shares of MeiraGTx from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, November 13th.

Shares of MGTX stock traded up $1.30 on Thursday, reaching $20.07. The company’s stock had a trading volume of 9,600 shares, compared to its average volume of 123,820. The company has a market capitalization of $704.74 million, a P/E ratio of -4.68 and a beta of 2.22. MeiraGTx has a 12-month low of $8.53 and a 12-month high of $30.23. The stock’s 50 day simple moving average is $15.69 and its 200-day simple moving average is $20.70. The company has a quick ratio of 6.90, a current ratio of 6.90 and a debt-to-equity ratio of 0.11.

MeiraGTx (NASDAQ:MGTX) last announced its earnings results on Thursday, November 7th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.22. The business had revenue of $3.58 million during the quarter. Research analysts expect that MeiraGTx will post -2.22 EPS for the current year.

In other news, Director Nicole Seligman purchased 5,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were acquired at an average price of $16.31 per share, for a total transaction of $81,550.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $81,550. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 17.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MGTX. Rhumbline Advisers raised its stake in shares of MeiraGTx by 5.6% during the 3rd quarter. Rhumbline Advisers now owns 19,075 shares of the company’s stock worth $304,000 after buying an additional 1,005 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of MeiraGTx in the second quarter worth $35,000. California State Teachers Retirement System raised its holdings in MeiraGTx by 11.0% in the third quarter. California State Teachers Retirement System now owns 26,679 shares of the company’s stock valued at $426,000 after acquiring an additional 2,644 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in MeiraGTx by 2,168.0% in the third quarter. Meeder Asset Management Inc. now owns 3,334 shares of the company’s stock valued at $53,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in MeiraGTx during the 3rd quarter valued at $72,000. 42.18% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: What is the yield curve?

Get a free copy of the Zacks research report on MeiraGTx (MGTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MeiraGTx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MeiraGTx and related companies with MarketBeat.com's FREE daily email newsletter.