MeiraGTx (NASDAQ:MGTX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

MeiraGTx (NASDAQ:MGTX) had its price target upped by analysts at Royal Bank of Canada from $9.00 to $11.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 69.75% from the stock’s previous close.

Separately, Chardan Capital restated a “buy” rating and set a $36.00 price target on shares of MeiraGTx in a research report on Wednesday, July 31st.

MeiraGTx Price Performance

Shares of MeiraGTx stock opened at $6.48 on Thursday. The firm has a market cap of $420.55 million, a PE ratio of -5.36 and a beta of 1.24. MeiraGTx has a twelve month low of $3.85 and a twelve month high of $7.60. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $5.13 and a 200 day moving average price of $4.80.

Hedge Funds Weigh In On MeiraGTx

A number of hedge funds have recently made changes to their positions in MGTX. BNP Paribas Financial Markets grew its position in MeiraGTx by 73.9% during the 1st quarter. BNP Paribas Financial Markets now owns 19,242 shares of the company’s stock worth $117,000 after purchasing an additional 8,178 shares during the last quarter. Russell Investments Group Ltd. raised its stake in MeiraGTx by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 157,999 shares of the company’s stock worth $959,000 after purchasing an additional 2,994 shares during the period. Tocqueville Asset Management L.P. grew its position in MeiraGTx by 16.3% during the first quarter. Tocqueville Asset Management L.P. now owns 39,500 shares of the company’s stock valued at $240,000 after acquiring an additional 5,550 shares during the period. Vanguard Group Inc. grew its position in MeiraGTx by 3.7% in the first quarter. Vanguard Group Inc. now owns 323,891 shares of the company’s stock valued at $1,966,000 after acquiring an additional 11,470 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of MeiraGTx during the first quarter worth $25,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

About MeiraGTx

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.