MeiraGTx (NASDAQ:MGTX) PT Lowered to $30.00

MeiraGTx (NASDAQ:MGTX – Get Rating) had its price target lowered by equities researchers at Piper Sandler from $40.00 to $30.00 in a research note issued on Thursday, The Fly reports. Piper Sandler’s target price points to a potential upside of 232.59% from the stock’s previous close.

Separately, Zacks Investment Research cut shares of MeiraGTx from a “buy” rating to a “hold” rating in a research note on Wednesday, March 16th.

NASDAQ:MGTX traded up $0.03 during trading hours on Thursday, hitting $9.02. 158,865 shares of the company were exchanged, compared to its average volume of 155,741. The stock has a market capitalization of $403.11 million, a price-to-earnings ratio of -4.98 and a beta of 1.83. MeiraGTx has a 52-week low of $8.50 and a 52-week high of $24.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.69 and a quick ratio of 2.69. The company’s 50 day moving average price is $12.77 and its 200-day moving average price is $16.29.

MeiraGTx (NASDAQ:MGTX – Get Rating) last announced its quarterly earnings data on Thursday, March 10th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.27. MeiraGTx had a negative net margin of 211.03% and a negative return on equity of 39.79%. The business had revenue of $21.04 million during the quarter, compared to analysts’ expectations of $6.95 million. On average, equities analysts predict that MeiraGTx will post -2.02 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MGTX. Acadian Asset Management LLC acquired a new position in shares of MeiraGTx in the 1st quarter valued at $30,000. Nisa Investment Advisors LLC acquired a new position in shares of MeiraGTx in the 4th quarter valued at $41,000. Advisor Group Holdings Inc. acquired a new position in shares of MeiraGTx in the 4th quarter valued at $66,000. Rockefeller Capital Management L.P. lifted its stake in shares of MeiraGTx by 3,000.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,100 shares of the company’s stock valued at $40,000 after purchasing an additional 3,000 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of MeiraGTx in the 4th quarter valued at $173,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

MeiraGTx Company Profile (Get Rating)

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 blindness, as well as Xerostomia following radiation treatment for head and neck cancers; degenerative diseases; neurodegenerative diseases, such as amyotrophic lateral sclerosis; and Parkinson's diseases.

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