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

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $26.00.

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Zacks Research cut shares of MeiraGTx from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Chardan Capital reiterated a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a research note on Tuesday, November 11th. Royal Bank Of Canada upped their target price on MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Finally, Piper Sandler increased their price target on MeiraGTx from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th.

MeiraGTx Trading Up 1.2%

NASDAQ:MGTX opened at $7.54 on Thursday. The stock has a market cap of $606.89 million, a price-to-earnings ratio of -3.57 and a beta of 1.37. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. MeiraGTx has a 1 year low of $4.55 and a 1 year high of $9.73. The business has a fifty day moving average of $7.73 and a 200-day moving average of $7.98.

Institutional Investors Weigh In On MeiraGTx

Several hedge funds have recently modified their holdings of MGTX. Invesco Ltd. lifted its position in shares of MeiraGTx by 30.8% in the 4th quarter. Invesco Ltd. now owns 90,881 shares of the company’s stock valued at $723,000 after acquiring an additional 21,381 shares in the last quarter. XTX Topco Ltd raised its stake in MeiraGTx by 11.0% during the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock valued at $302,000 after purchasing an additional 3,766 shares during the period. VARCOV Co. purchased a new stake in shares of MeiraGTx in the fourth quarter valued at $262,000. Virtus Investment Advisers LLC purchased a new stake in shares of MeiraGTx in the fourth quarter valued at $237,000. Finally, Opaleye Management Inc. acquired a new stake in shares of MeiraGTx in the fourth quarter worth $3,107,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

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.