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

MeiraGTx (NASDAQ:MGTX)‘s stock had its “buy” rating reiterated by Chardan Capital in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $36.00 price objective on the stock.

Separately, Royal Bank of Canada lifted their price objective on MeiraGTx from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

MeiraGTx Price Performance

NASDAQ MGTX opened at $5.98 on Monday. MeiraGTx has a fifty-two week low of $3.85 and a fifty-two week high of $7.60. The stock’s 50-day moving average is $5.21 and its two-hundred day moving average is $4.81. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market cap of $467.34 million, a P/E ratio of -4.94 and a beta of 1.24.

Hedge Funds Weigh In On MeiraGTx

A number of institutional investors have recently made changes to their positions in MGTX. Acadian Asset Management LLC bought a new position in shares of MeiraGTx in the first quarter worth about $25,000. BNP Paribas Financial Markets increased its stake in shares of MeiraGTx by 142.5% in the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock worth $39,000 after purchasing an additional 5,476 shares during the period. China Universal Asset Management Co. Ltd. grew its position in MeiraGTx by 97.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company’s stock worth $62,000 after buying an additional 7,330 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in MeiraGTx by 19.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,763 shares of the company’s stock worth $75,000 after buying an additional 2,839 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in MeiraGTx during the third quarter worth about $82,000. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Company Profile

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.