MeiraGTx (NASDAQ:MGTX) Earns “Buy” Rating from Chardan Capital
Meira GTx (NASDAQ: MGTX – Get a rating)The stock had its “buy” rating restated by investment analysts Chardan Capital in a research report released Friday to clients and investors, TipRanks reports. They currently have a target price of $46.00 on the stock. Chardan Capital’s price target indicates upside potential of 428.13% from the company’s previous close.
Other equity research analysts have also recently released reports on the company. Piper Sandler reduced her target price on MeiraGTx from $40.00 to $30.00 in a research note on Thursday. Zacks Investment Research upgraded MeiraGTx from a “buy” rating to a “hold” rating in a Wednesday, March 16 research note. Finally, Barclays reduced its target price on MeiraGTx from $32.00 to $18.00 in a research note on Friday.
NASDAQ: MGTX traded down $0.31 during Friday trading hours, hitting $8.71. 174,982 shares of the company were traded, against an average volume of 113,529. The company has a market capitalization of $389.25 million, a P/E ratio of -4.42 and a beta of 1.83. MeiraGTx has a 1 year minimum of $8.50 and a 1 year maximum of $24.89. The company has a debt ratio of 0.11, a current ratio of 2.69 and a quick ratio of 2.69. The company has a 50-day moving average of $12.57 and a 200-day moving average of $16.20.
Meira GTx (NASDAQ: MGTX – Get a rating) last released its quarterly results on Thursday, March 10. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.49) by $0.27. The company posted revenue of $21.04 million for the quarter, versus a consensus estimate of $6.95 million. MeiraGTx had a negative return on equity of 45.07% and a negative net margin of 224.55%. As a group, equity research analysts expect MeiraGTx to post earnings per share of -2.02 for the current fiscal year.
Several institutional investors and hedge funds have recently changed their positions in MGTX. Morgan Stanley increased its stake in MeiraGTx shares by 2,524.1% in Q2. Morgan Stanley now owns 69,277 shares of the company valued at $1,074,000 after acquiring an additional 66,637 shares in the last quarter. Invesco Ltd. bought a new stock position in MeiraGTx in Q2 worth $184,000. SG Americas Securities LLC increased its stake in MeiraGTx shares by 178.7% in Q3. SG Americas Securities LLC now owns 25,435 shares of the company valued at $335,000 after acquiring an additional 16,310 shares in the last quarter. Barclays PLC increased its stake in MeiraGTx shares by 16.6% in Q3. Barclays PLC now owns 58,505 shares in the company valued at $772,000 after acquiring a further 8,347 shares in the last quarter. Finally, IndexIQ Advisors LLC increased its stake in MeiraGTx shares by 11.1% in Q3. IndexIQ Advisors LLC now owns 31,157 shares of the company valued at $411,000 after acquiring 3,121 additional shares in the last quarter. Institutional investors hold 67.68% of the company’s shares.
MeiraGTx Company Profile (Get a rating)
MeiraGTx Holdings plc, a clinical-stage gene therapy company, is focused on developing treatments for patients with serious diseases. The company develops various therapies for eye diseases, including hereditary blindness, as well as xerostomia following radiation therapy for head and neck cancers; degenerative diseases; neurodegenerative diseases, such as amyotrophic lateral sclerosis; and Parkinson’s disease.
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