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

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.00.

A number of research firms have recently issued reports on MGTX. Chardan Capital reiterated a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a report on Thursday, January 22nd. Wall Street Zen lowered MeiraGTx from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Zacks Research cut MeiraGTx from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Piper Sandler boosted their price objective on shares of MeiraGTx from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th.

MeiraGTx Stock Performance

NASDAQ MGTX opened at $7.51 on Thursday. The stock has a market capitalization of $604.48 million, a price-to-earnings ratio of -3.56 and a beta of 1.37. The business’s 50 day moving average is $7.81 and its two-hundred day moving average is $7.98. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $9.73. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29.

Hedge Funds Weigh In On MeiraGTx

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in MeiraGTx during the first quarter worth about $557,000. FNY Investment Advisers LLC purchased a new position in shares of MeiraGTx during the 2nd quarter worth about $61,000. Levin Capital Strategies L.P. acquired a new stake in shares of MeiraGTx in the second quarter worth approximately $163,000. Rhumbline Advisers boosted its position in shares of MeiraGTx by 9.4% in the second quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock worth $415,000 after acquiring an additional 5,488 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in MeiraGTx by 3.8% in the second quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock valued at $229,000 after purchasing an additional 1,287 shares during the period. 67.48% of the stock is owned by institutional investors and hedge funds.

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.