MeiraGTx (MGTX) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of MeiraGTx (NASDAQ:MGTX) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “MeiraGTx Holdings plc focuses on operating as a holding company for MeiraGTx Limited which operates as a clinical stage gene therapy company. It develops novel gene therapy treatments for inherited and acquired disorders. The company’s product pipeline consists of AAV-CNGB3, AAV-CNGA3, AAV-RPE65, AAV-RPGR, AAV-AQP1, AAV-AQP1 and AAV-UPF1 which are in clinical stage. MeiraGTx Holdings plc is based in New York. “
Separately, Chardan Capital reissued a buy rating and issued a $30.00 price objective on shares of MeiraGTx in a research note on Tuesday, October 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. MeiraGTx presently has an average rating of Buy and an average price target of $23.67.
MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.01). Sell-side analysts forecast that MeiraGTx will post -4.44 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the business. Luminus Management LLC purchased a new position in shares of MeiraGTx during the 2nd quarter worth about $2,267,000. BlackRock Inc. purchased a new position in shares of MeiraGTx during the 3rd quarter worth about $1,968,000. Millennium Management LLC purchased a new position in shares of MeiraGTx during the 2nd quarter worth about $923,000. FMR LLC purchased a new position in shares of MeiraGTx during the 2nd quarter worth about $664,000. Finally, Dean Capital Investments Management LLC purchased a new position in shares of MeiraGTx during the 2nd quarter worth about $458,000. 22.67% of the stock is owned by institutional investors and hedge funds.
MeiraGTx Company Profile
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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