MeiraGTx (NASDAQ:MGTX) Upgraded at Zacks Research

Zacks Research upgraded shares of MeiraGTx (NASDAQ:MGTX) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

MGTX has been the topic of a number of other reports. Piper Sandler upped their target price on shares of MeiraGTx from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Chardan Capital reissued a “buy” rating and set a $35.00 price target on shares of MeiraGTx in a research note on Tuesday, November 11th. HC Wainwright started coverage on shares of MeiraGTx in a report on Monday, November 24th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price objective on shares of MeiraGTx from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

MeiraGTx Trading Up 0.6%

Shares of MGTX opened at $7.81 on Monday. The stock’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $7.94. The firm has a market capitalization of $628.63 million, a PE ratio of -3.70 and a beta of 1.37. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $9.73. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in MeiraGTx in the first quarter valued at approximately $557,000. Rhumbline Advisers boosted its position in shares of MeiraGTx by 9.4% during the second quarter. Rhumbline Advisers now owns 63,715 shares of the company’s stock worth $415,000 after purchasing an additional 5,488 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of MeiraGTx by 3.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock valued at $229,000 after buying an additional 1,287 shares during the period. Brown Advisory Inc. bought a new stake in shares of MeiraGTx in the 2nd quarter valued at $326,000. Finally, 22NW LP bought a new stake in shares of MeiraGTx in the 2nd quarter valued at $3,824,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

About MeiraGTx

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.