MeiraGTx (NASDAQ:MGTX) Price Target Raised to $13.00 at Royal Bank of Canada

MeiraGTx (NASDAQ:MGTX) had its price objective increased by Royal Bank of Canada from $11.00 to $13.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, Chardan Capital reiterated a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a research note on Monday, February 24th.

MeiraGTx Trading Up 3.6 %

Shares of MGTX stock opened at $7.77 on Monday. MeiraGTx has a 52-week low of $3.85 and a 52-week high of $8.75. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market capitalization of $612.70 million, a PE ratio of -6.42, a PEG ratio of 0.37 and a beta of 1.23. The stock has a fifty day simple moving average of $6.62 and a two-hundred day simple moving average of $5.90.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). MeiraGTx had a negative return on equity of 146.38% and a negative net margin of 633.05%. The business had revenue of $21.39 million during the quarter, compared to analysts’ expectations of $1.50 million. On average, analysts predict that MeiraGTx will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, CEO Alexandria Forbes sold 35,839 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the transaction, the chief executive officer now owns 1,395,102 shares of the company’s stock, valued at $9,026,309.94. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Giroux sold 24,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.29, for a total transaction of $150,960.00. Following the completion of the transaction, the chief financial officer now directly owns 849,947 shares of the company’s stock, valued at approximately $5,346,166.63. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. lifted its holdings in shares of MeiraGTx by 106.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock valued at $30,000 after acquiring an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock valued at $30,000 after acquiring an additional 2,016 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of MeiraGTx by 142.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock valued at $39,000 after acquiring an additional 5,476 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of MeiraGTx in the 4th quarter valued at about $88,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of MeiraGTx by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company’s stock valued at $101,000 after acquiring an additional 1,685 shares during the last quarter. Institutional investors own 67.48% of the company’s stock.

MeiraGTx Company Profile

MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia.