MeiraGTx Holdings PLC (MGTX) Given Consensus Rating of “Strong Buy” by Brokerages
MeiraGTx Holdings PLC (NASDAQ:MGTX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy rating.
Analysts have set a 1 year consensus target price of $29.00 for the company and are forecasting that the company will post ($0.76) EPS for the current quarter, according to Zacks. Zacks has also assigned MeiraGTx an industry rank of 80 out of 256 based on the ratings given to related companies.
Several research firms recently weighed in on MGTX. Chardan Capital reiterated a “buy” rating and issued a $30.00 target price on shares of MeiraGTx in a report on Thursday, January 31st. Zacks Investment Research upgraded shares of MeiraGTx from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Saturday, March 30th. Finally, Barclays lifted their target price on shares of MeiraGTx from $20.00 to $30.00 and gave the company a “positive” rating in a report on Wednesday, May 15th.
Several large investors have recently bought and sold shares of the business. Perceptive Advisors LLC raised its holdings in shares of MeiraGTx by 27.7% during the 1st quarter. Perceptive Advisors LLC now owns 6,007,746 shares of the company’s stock valued at $103,513,000 after purchasing an additional 1,304,348 shares in the last quarter. BlackRock Inc. lifted its position in shares of MeiraGTx by 216.5% during the first quarter. BlackRock Inc. now owns 565,740 shares of the company’s stock worth $9,748,000 after purchasing an additional 386,971 shares in the last quarter. Orbimed Advisors LLC lifted its position in shares of MeiraGTx by 85.6% during the fourth quarter. Orbimed Advisors LLC now owns 469,953 shares of the company’s stock worth $4,530,000 after purchasing an additional 216,770 shares in the last quarter. Norges Bank acquired a new position in shares of MeiraGTx during the fourth quarter worth approximately $1,928,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of MeiraGTx during the first quarter worth approximately $3,222,000. Institutional investors and hedge funds own 21.81% of the company’s stock.
MeiraGTx stock traded up $0.55 during trading on Tuesday, hitting $23.98. The company had a trading volume of 167,926 shares, compared to its average volume of 152,966. MeiraGTx has a 1-year low of $7.98 and a 1-year high of $24.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.82 and a current ratio of 6.96. The company has a market capitalization of $799.57 million and a PE ratio of -5.46.
MeiraGTx (NASDAQ:MGTX) last posted its earnings results on Tuesday, May 14th. The company reported ($0.62) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.02. The company had revenue of $0.79 million during the quarter. As a group, equities research analysts forecast that MeiraGTx will post -3.12 earnings per share for the current year.
MeiraGTx Holdings plc, a clinical-stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia following radiation treatment for head and neck cancers; neurodegenerative diseases, such as amyothrophic lateral sclerosis; and Parkinson's diseases.
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