Royal Bank of Canada Increases MeiraGTx (NASDAQ:MGTX) Price Target to $11.00

MeiraGTx (NASDAQ:MGTX) had its price target hoisted by Royal Bank of Canada from $9.00 to $11.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, Chardan Capital restated a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a report on Wednesday, July 31st.

MeiraGTx Trading Down 2.0 %

Shares of MGTX traded down $0.13 during mid-day trading on Thursday, reaching $6.51. The stock had a trading volume of 217,110 shares, compared to its average volume of 202,142. The business has a fifty day moving average of $5.08 and a 200 day moving average of $4.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.36 and a current ratio of 2.36. MeiraGTx has a 12 month low of $3.85 and a 12 month high of $7.60.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.45). The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $16.38 million. MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 140.70%. As a group, research analysts forecast that MeiraGTx will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On MeiraGTx

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Knoll Capital Management LLC acquired a new position in MeiraGTx in the third quarter valued at approximately $5,212,000. Erste Asset Management GmbH acquired a new position in shares of MeiraGTx in the 3rd quarter valued at $2,795,000. Garden State Investment Advisory Services LLC purchased a new stake in MeiraGTx during the third quarter worth $1,636,000. Privium Fund Management B.V. grew its position in MeiraGTx by 70.0% during the second quarter. Privium Fund Management B.V. now owns 203,960 shares of the company’s stock valued at $804,000 after buying an additional 83,975 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in MeiraGTx by 14.6% in the second quarter. Dimensional Fund Advisors LP now owns 462,950 shares of the company’s stock valued at $1,949,000 after buying an additional 58,854 shares in the last quarter. Institutional investors and hedge funds 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.