MeiraGTx (NASDAQ:MGTX) Rating Increased to Hold at Wall Street Zen

MeiraGTx (NASDAQ:MGTX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada lifted their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Monday, March 17th. Chardan Capital reduced their target price on MeiraGTx from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th.

MeiraGTx Trading Up 8.5%

Shares of MGTX stock opened at $7.51 on Friday. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $8.75. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average price is $6.04 and its 200-day moving average price is $6.28. The stock has a market capitalization of $603.10 million, a price-to-earnings ratio of -3.23 and a beta of 1.24.

MeiraGTx (NASDAQ:MGTX) last issued its earnings results on Tuesday, May 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.13). MeiraGTx had a negative return on equity of 241.05% and a negative net margin of 484.90%. The firm had revenue of $1.93 million during the quarter, compared to the consensus estimate of $4.44 million. Equities research analysts predict that MeiraGTx will post -1.48 EPS for the current fiscal year.

Insider Activity at MeiraGTx

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $6.00, for a total transaction of $144,000.00. Following the sale, the chief financial officer directly owned 882,494 shares of the company’s stock, valued at $5,294,964. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alexandria Forbes sold 47,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $5.34, for a total value of $253,650.00. Following the sale, the chief executive officer directly owned 1,408,983 shares in the company, valued at $7,523,969.22. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in MeiraGTx by 3,606.7% during the first quarter. GAMMA Investing LLC now owns 4,448 shares of the company’s stock worth $30,000 after acquiring an additional 4,328 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock worth $30,000 after acquiring an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of MeiraGTx by 68.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock valued at $30,000 after buying an additional 2,016 shares during the period. CWM LLC boosted its position in shares of MeiraGTx by 1,737.7% during the first quarter. CWM LLC now owns 8,674 shares of the company’s stock valued at $59,000 after buying an additional 8,202 shares during the period. Finally, Ieq Capital LLC purchased a new position in shares of MeiraGTx during the first quarter valued at approximately $83,000. 67.48% of the stock is owned by institutional investors.

MeiraGTx Company Profile

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.