Zacks: Brokerages Set $22.33 Target Price for MeiraGTx Holdings PLC (MGTX)

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus target price of $22.33 for the company and are forecasting that the company will post ($0.46) EPS for the current quarter, according to Zacks. Zacks has also given MeiraGTx an industry rank of 77 out of 255 based on the ratings given to related companies.

A number of research firms have recently commented on MGTX. Zacks Investment Research upgraded MeiraGTx from a “sell” rating to a “hold” rating in a research report on Friday. Chardan Capital began coverage on MeiraGTx in a research report on Thursday, August 23rd. They issued a “buy” rating for the company. Evercore ISI began coverage on MeiraGTx in a research report on Monday, July 9th. They issued an “outperform” rating and a $21.00 price objective for the company. Bank of America began coverage on MeiraGTx in a research report on Tuesday, July 3rd. They issued a “buy” rating for the company. Finally, Barclays began coverage on MeiraGTx in a research report on Tuesday, July 3rd. They issued an “overweight” rating and a $20.00 price objective for the company.

MGTX stock traded down $0.28 during trading on Monday, hitting $13.01. 3,222 shares of the company traded hands, compared to its average volume of 67,064. MeiraGTx has a 1 year low of $7.98 and a 1 year high of $15.49.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($2.20) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($1.62). As a group, equities analysts predict that MeiraGTx will post -4.17 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of MeiraGTx in the second quarter valued at approximately $229,000. Dean Capital Investments Management LLC acquired a new stake in shares of MeiraGTx in the second quarter worth approximately $458,000. FMR LLC acquired a new stake in shares of MeiraGTx in the second quarter worth approximately $664,000. Millennium Management LLC acquired a new stake in shares of MeiraGTx in the second quarter worth approximately $923,000. Finally, Luminus Management LLC acquired a new stake in shares of MeiraGTx in the second quarter worth approximately $2,267,000. Institutional investors and hedge funds own 22.76% of the company’s stock.

About MeiraGTx

MeiraGTx Holdings plc, an integrated clinical stage gene therapy company, develops various gene therapy products for the lives of patients suffering from acquired and inherited disorders. The company focuses on various areas of unmet medical need comprising inherited retinal diseases, xerostomia, and neurodegenerative diseases.

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