MeiraGTx (NASDAQ:MGTX) Given New $11.00 Price Target at Royal Bank of Canada

MeiraGTx (NASDAQ:MGTX) had its price target boosted by Royal Bank of Canada from $9.00 to $11.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Chardan Capital reiterated a “buy” rating and issued a $36.00 price target on shares of MeiraGTx in a research note on Wednesday, July 31st.

MeiraGTx Stock Performance

Shares of MeiraGTx stock traded down $0.13 during trading on Thursday, hitting $6.51. The stock had a trading volume of 217,110 shares, compared to its average volume of 202,142. MeiraGTx has a 12 month low of $3.85 and a 12 month high of $7.60. The business’s 50-day moving average is $5.08 and its 200 day moving average is $4.79. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.04.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Monday, August 12th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.45). MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 140.70%. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $16.38 million. On average, sell-side analysts expect that MeiraGTx will post -0.63 EPS for the current year.

Institutional Trading of MeiraGTx

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of MeiraGTx by 73.9% during the first quarter. BNP Paribas Financial Markets now owns 19,242 shares of the company’s stock valued at $117,000 after acquiring an additional 8,178 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in MeiraGTx by 1.9% in 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 last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of MeiraGTx by 16.3% in the first quarter. Tocqueville Asset Management L.P. now owns 39,500 shares of the company’s stock worth $240,000 after acquiring an additional 5,550 shares during the period. Vanguard Group Inc. increased its position in MeiraGTx by 3.7% during the first quarter. Vanguard Group Inc. now owns 323,891 shares of the company’s stock valued at $1,966,000 after acquiring an additional 11,470 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in MeiraGTx in the first quarter valued at about $25,000. 67.48% of the stock is currently owned by institutional investors.

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.