MeiraGTx (NASDAQ:MGTX) Lowered to Sell at ValuEngine

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ValuEngine cut shares of MeiraGTx (NASDAQ:MGTX) from a hold rating to a sell rating in a report issued on Tuesday, ValuEngine reports.

Several other analysts have also issued reports on the company. Zacks Investment Research raised MeiraGTx from a hold rating to a buy rating and set a $17.00 target price on the stock in a report on Wednesday, November 13th. Piper Jaffray Companies began coverage on MeiraGTx in a research note on Tuesday, September 3rd. They issued an overweight rating and a $40.00 price target for the company. Finally, Chardan Capital reaffirmed a buy rating and set a $45.00 price objective on shares of MeiraGTx in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $33.00.

Shares of MGTX stock opened at $20.52 on Tuesday. The stock has a market cap of $750.46 million, a P/E ratio of -4.67 and a beta of 2.22. MeiraGTx has a 1 year low of $8.53 and a 1 year high of $30.23. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $15.81 and a 200 day simple moving average of $20.69.

MeiraGTx (NASDAQ:MGTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.22. The company had revenue of $3.58 million for the quarter. Analysts forecast that MeiraGTx will post -2.22 EPS for the current year.

In other news, Director Nicole Seligman purchased 5,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $16.31 per share, for a total transaction of $81,550.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $81,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 17.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MGTX. Bank of Montreal Can bought a new stake in MeiraGTx during the second quarter worth $35,000. Meeder Asset Management Inc. boosted its holdings in shares of MeiraGTx by 2,168.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,334 shares of the company’s stock valued at $53,000 after purchasing an additional 3,187 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of MeiraGTx in the 3rd quarter valued at $72,000. Bowling Portfolio Management LLC bought a new position in shares of MeiraGTx in the 3rd quarter valued at $216,000. Finally, Financial Advisory Service Inc. acquired a new position in shares of MeiraGTx during the 2nd quarter worth $230,000. Institutional investors and hedge funds own 42.18% of the company’s stock.

MeiraGTx Company Profile

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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