MeiraGTx (NASDAQ:MGTX) Stock Rating Upgraded by Wall Street Zen
by Kim Johansen · The Markets DailyMeiraGTx (NASDAQ:MGTX – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.
MGTX has been the subject of a number of other research reports. Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Bank of America lifted their target price on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Piper Sandler lowered their target price on shares of MeiraGTx from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, March 27th. Chardan Capital reissued a “buy” rating and set a $35.00 target price on shares of MeiraGTx in a research note on Friday, March 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MeiraGTx currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.67.
View Our Latest Research Report on MeiraGTx
MeiraGTx Stock Performance
Shares of NASDAQ:MGTX opened at $9.52 on Friday. The firm has a market cap of $775.40 million, a PE ratio of -6.70 and a beta of 1.27. The firm’s fifty day moving average is $7.72 and its 200-day moving average is $8.01. MeiraGTx has a 52 week low of $4.55 and a 52 week high of $9.88.
MeiraGTx (NASDAQ:MGTX – Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.79. The company had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. MeiraGTx had a negative net margin of 140.31% and a negative return on equity of 1,065.47%. Sell-side analysts forecast that MeiraGTx will post -1.48 EPS for the current year.
Insiders Place Their Bets
In other MeiraGTx news, CEO Alexandria Forbes sold 62,000 shares of MeiraGTx stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total value of $459,420.00. Following the completion of the sale, the chief executive officer directly owned 1,449,695 shares of the company’s stock, valued at approximately $10,742,239.95. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.50% of the company’s stock.
Institutional Investors Weigh In On MeiraGTx
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. increased its stake in MeiraGTx by 183.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 308,509 shares of the company’s stock valued at $2,453,000 after purchasing an additional 199,528 shares in the last quarter. 683 Capital Management LLC increased its stake in MeiraGTx by 4.5% in the second quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company’s stock valued at $17,539,000 after purchasing an additional 115,000 shares in the last quarter. AMH Equity Ltd bought a new stake in MeiraGTx in the third quarter valued at $658,000. 22NW LP bought a new stake in MeiraGTx in the second quarter valued at $3,824,000. Finally, Perigon Wealth Management LLC bought a new stake in MeiraGTx in the fourth quarter valued at $119,000. 67.48% of the stock is owned by institutional investors.
About MeiraGTx
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.