MeiraGTx (NASDAQ:MGTX) Receives “Buy” Rating from Chardan Capital

MeiraGTx (NASDAQ:MGTX)‘s stock had its “buy” rating reiterated by stock analysts at Chardan Capital in a research note issued on Monday,Benzinga reports. They presently have a $36.00 price target on the stock. Chardan Capital’s price objective indicates a potential upside of 491.13% from the company’s current price.

Separately, Royal Bank of Canada lifted their target price on MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Thursday.

MeiraGTx Stock Down 6.0 %

Shares of MeiraGTx stock traded down $0.39 on Monday, hitting $6.09. The company had a trading volume of 238,730 shares, compared to its average volume of 202,998. The stock has a 50-day moving average of $5.13 and a 200-day moving average of $4.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.36. MeiraGTx has a twelve month low of $3.85 and a twelve month high of $7.60. The firm has a market capitalization of $475.95 million, a P/E ratio of -5.03 and a beta of 1.24.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in MeiraGTx by 1.9% during the first quarter. Russell Investments Group Ltd. now owns 157,999 shares of the company’s stock worth $959,000 after purchasing an additional 2,994 shares during the period. Letko Brosseau & Associates Inc. boosted its stake in shares of MeiraGTx by 38.5% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 45,300 shares of the company’s stock worth $191,000 after acquiring an additional 12,600 shares during the period. Squarepoint Ops LLC acquired a new position in shares of MeiraGTx during the 2nd quarter worth approximately $123,000. American Century Companies Inc. raised its stake in MeiraGTx by 42.4% in the 2nd quarter. American Century Companies Inc. now owns 40,008 shares of the company’s stock valued at $168,000 after acquiring an additional 11,907 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in MeiraGTx by 14.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 462,950 shares of the company’s stock valued at $1,949,000 after purchasing an additional 58,854 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

About MeiraGTx

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.