Brokerages Set MeiraGTx Holdings PLC (NASDAQ:MGTX) PT at $26.00

MeiraGTx Holdings PLC (NASDAQ:MGTX) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.00.

MGTX has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of MeiraGTx from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. HC Wainwright began coverage on MeiraGTx in a research note on Monday, November 24th. They set a “buy” rating and a $20.00 price target on the stock. Wall Street Zen lowered shares of MeiraGTx from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Piper Sandler raised their price objective on shares of MeiraGTx from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Zacks Research lowered MeiraGTx from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th.

Institutional Trading of MeiraGTx

Hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC boosted its stake in MeiraGTx by 0.4% in the 2nd quarter. Perceptive Advisors LLC now owns 12,626,103 shares of the company’s stock worth $82,231,000 after purchasing an additional 45,000 shares during the period. Rubric Capital Management LP increased its holdings in MeiraGTx by 65.7% during the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company’s stock worth $49,094,000 after buying an additional 2,448,880 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of MeiraGTx by 7.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock valued at $39,345,000 after purchasing an additional 400,000 shares during the period. Millennium Management LLC boosted its stake in shares of MeiraGTx by 23.5% during the 4th quarter. Millennium Management LLC now owns 3,176,390 shares of the company’s stock worth $25,252,000 after acquiring an additional 604,121 shares during the period. Finally, 683 Capital Management LLC increased its holdings in shares of MeiraGTx by 4.5% in the second quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company’s stock valued at $17,539,000 after purchasing an additional 115,000 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

MeiraGTx Stock Performance

NASDAQ MGTX opened at $7.45 on Thursday. The firm has a market cap of $599.65 million, a price-to-earnings ratio of -3.53 and a beta of 1.37. MeiraGTx has a 1-year low of $4.55 and a 1-year high of $9.73. The company has a 50 day moving average of $7.75 and a 200-day moving average of $7.98. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29.

About MeiraGTx

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx’s pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company’s lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.