Analysts Set MeiraGTx Holdings PLC (NASDAQ:MGTX) PT at $26.00

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $26.00.

MGTX has been the topic of several recent research reports. Raymond James Financial started coverage on MeiraGTx in a research note on Tuesday, October 21st. They issued a “strong-buy” rating and a $29.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Piper Sandler raised their target price on shares of MeiraGTx from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. HC Wainwright began coverage on shares of MeiraGTx in a report on Monday, November 24th. They set a “buy” rating and a $20.00 target price for the company. Finally, Chardan Capital reaffirmed a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a research report on Tuesday, November 11th.

Hedge Funds Weigh In On MeiraGTx

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after purchasing an additional 1,466 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of MeiraGTx in the third quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its stake in shares of MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after buying an additional 7,005 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of MeiraGTx during the second quarter valued at approximately $61,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of MeiraGTx during the second quarter valued at approximately $93,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx Stock Down 1.7%

Shares of MeiraGTx stock opened at $7.61 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $9.73. The company has a market cap of $612.53 million, a P/E ratio of -3.61 and a beta of 1.38. The company’s fifty day simple moving average is $7.97 and its two-hundred day simple moving average is $8.05.

MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Thursday, November 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.12). MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%.The company had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $7.71 million. Research analysts anticipate that MeiraGTx will post -1.48 EPS for the current year.

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.