MeiraGTx (NASDAQ:MGTX) Upgraded to Hold at ValuEngine
Other research analysts also recently issued research reports about the stock. Chardan Capital reissued a buy rating and issued a $45.00 price objective on shares of MeiraGTx in a research report on Monday, September 23rd. Piper Jaffray Companies started coverage on shares of MeiraGTx in a research report on Tuesday, September 3rd. They issued an overweight rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $33.75.
Shares of MGTX traded down $0.17 during midday trading on Thursday, reaching $14.19. The stock had a trading volume of 184,600 shares, compared to its average volume of 167,395. The firm has a 50 day simple moving average of $18.44 and a 200-day simple moving average of $21.43. MeiraGTx has a one year low of $8.53 and a one year high of $30.23. The firm has a market cap of $475.02 million, a PE ratio of -3.24 and a beta of 2.11. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 0.12.
In related news, Director Life Sciences Maste Perceptive bought 425,531 shares of MeiraGTx stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $23.50 per share, with a total value of $9,999,978.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of MeiraGTx by 2,008.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 171,168 shares of the company’s stock worth $4,338,000 after buying an additional 163,050 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of MeiraGTx during the 2nd quarter worth about $1,029,000. Northern Trust Corp boosted its holdings in shares of MeiraGTx by 7.9% during the 2nd quarter. Northern Trust Corp now owns 118,534 shares of the company’s stock worth $3,186,000 after buying an additional 8,720 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of MeiraGTx during the 2nd quarter worth about $516,000. Finally, Focused Wealth Management Inc bought a new stake in shares of MeiraGTx during the 2nd quarter worth about $57,000. 37.41% of the stock is owned by institutional investors and hedge funds.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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