Zacks: MeiraGTx Holdings PLC (NASDAQ:MGTX) Given Consensus Recommendation of “Strong Buy” by Brokerages

MeiraGTx Holdings PLC (NASDAQ:MGTX) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus price target of $42.50 for the company and are forecasting that the company will post ($0.69) earnings per share for the current quarter, according to Zacks. Zacks has also given MeiraGTx an industry rank of 81 out of 255 based on the ratings given to its competitors.

A number of analysts have issued reports on MGTX shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $40.00 price target on shares of MeiraGTx in a report on Monday, December 16th. Zacks Investment Research downgraded MeiraGTx from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine cut MeiraGTx from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Chardan Capital reiterated a “buy” rating and set a $45.00 target price on shares of MeiraGTx in a research report on Monday, December 16th.

Shares of NASDAQ MGTX opened at $20.10 on Friday. The company has a market capitalization of $730.30 million, a price-to-earnings ratio of -4.58 and a beta of 2.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.90 and a quick ratio of 6.90. The business has a 50-day moving average of $20.32 and a two-hundred day moving average of $20.34. MeiraGTx has a 1 year low of $9.10 and a 1 year high of $30.23.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.22. The business had revenue of $3.58 million for the quarter. As a group, equities research analysts expect that MeiraGTx will post -2.22 earnings per share for the current year.

In other news, Director Nicole Seligman purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average price of $16.31 per share, with a total value of $81,550.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $81,550. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 17.40% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of MeiraGTx by 5.6% during the 3rd quarter. Rhumbline Advisers now owns 19,075 shares of the company’s stock worth $304,000 after acquiring an additional 1,005 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of MeiraGTx during the 2nd quarter worth approximately $35,000. California State Teachers Retirement System boosted its stake in shares of MeiraGTx by 11.0% during the 3rd quarter. California State Teachers Retirement System now owns 26,679 shares of the company’s stock worth $426,000 after acquiring an additional 2,644 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of MeiraGTx by 2,168.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,334 shares of the company’s stock worth $53,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of MeiraGTx during the 3rd quarter worth approximately $72,000. 42.18% 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 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.

Featured Article: How to identify percentage decliners

Get a free copy of the Zacks research report on MeiraGTx (MGTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MeiraGTx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MeiraGTx and related companies with MarketBeat.com's FREE daily email newsletter.