MeiraGTx Holdings PLC (NASDAQ:MGTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $26.00.

Several equities research analysts recently weighed in on MGTX shares. HC Wainwright assumed coverage on shares of MeiraGTx in a research report on Monday, November 24th. They set a “buy” rating and a $20.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th.

MeiraGTx Price Performance

Shares of NASDAQ MGTX opened at $7.20 on Monday. The business’s 50 day moving average price is $7.57 and its two-hundred day moving average price is $7.95. The company has a market cap of $579.53 million, a PE ratio of -3.41 and a beta of 1.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29. MeiraGTx has a twelve month low of $4.55 and a twelve month high of $9.73.

Institutional Investors Weigh In On MeiraGTx

A number of large investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new position in shares of MeiraGTx in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets lifted its position in shares of MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after buying an additional 1,466 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after buying an additional 7,005 shares in the last quarter. ProShare Advisors LLC bought a new position in MeiraGTx in the fourth quarter valued at about $94,000. Finally, Abel Hall LLC acquired a new position in MeiraGTx during the fourth quarter worth about $98,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

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.