MeiraGTx Holdings (MGTX)

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MeiraGTx (NASDAQ:MGTX) Given Buy Rating at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of MeiraGTx (NASDAQ:MGTX) in a research note issued to investors on Monday, Stock Target Advisor reports. Piper Jaffray Companies currently has a $40.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of MeiraGTx from a hold rating to a buy rating and set a $17.00 price objective for the company in a report on Wednesday, November 13th. Chardan Capital reissued a buy rating and set a $45.00 target price on shares of MeiraGTx in a report on Monday. Finally, ValuEngine downgraded shares of MeiraGTx from a hold rating to a sell rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. MeiraGTx has a consensus rating of Buy and a consensus target price of $33.00.

Shares of MGTX opened at $21.43 on Monday. The firm has a market cap of $791.78 million, a price-to-earnings ratio of -4.88 and a beta of 2.22. The stock has a 50 day moving average of $17.85 and a 200-day moving average of $20.48. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.11. MeiraGTx has a 52 week low of $8.53 and a 52 week high of $30.23.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.22. The firm had revenue of $3.58 million during the quarter. On average, sell-side analysts predict that MeiraGTx will post -2.22 earnings per share for the current fiscal year.

In related news, Director Nicole Seligman bought 5,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of $16.31 per share, for a total transaction of $81,550.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $81,550. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Orbimed Advisors LLC raised its position in shares of MeiraGTx by 29.5% during the 3rd quarter. Orbimed Advisors LLC now owns 3,349,060 shares of the company’s stock worth $53,418,000 after purchasing an additional 762,109 shares during the period. BlackRock Inc. grew its stake in MeiraGTx by 39.6% during the 2nd quarter. BlackRock Inc. now owns 789,792 shares of the company’s stock worth $21,230,000 after buying an additional 224,052 shares during the last quarter. State Street Corp increased its position in MeiraGTx by 19.3% in the third quarter. State Street Corp now owns 318,242 shares of the company’s stock worth $5,076,000 after buying an additional 51,522 shares during the period. Millennium Management LLC increased its position in MeiraGTx by 519.2% in the third quarter. Millennium Management LLC now owns 204,966 shares of the company’s stock worth $3,269,000 after buying an additional 171,866 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in MeiraGTx by 2,008.5% in the second quarter. JPMorgan Chase & Co. now owns 171,168 shares of the company’s stock valued at $4,338,000 after buying an additional 163,050 shares during the last quarter. Institutional investors and hedge funds own 42.18% of the company’s stock.

About MeiraGTx

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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