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

MeiraGTx (NASDAQ:MGTX)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a report released on Monday,Benzinga reports. They currently have a $36.00 target price on the stock. Chardan Capital’s price target indicates a potential upside of 393.15% from the company’s previous close.

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

MeiraGTx Trading Up 6.9 %

NASDAQ:MGTX opened at $7.30 on Monday. The company has a market capitalization of $570.50 million, a PE ratio of -6.03, a P/E/G ratio of 0.37 and a beta of 1.25. MeiraGTx has a 52-week low of $3.85 and a 52-week high of $7.80. The stock’s 50 day moving average price is $6.32 and its 200 day moving average price is $5.55. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86.

Insider Buying and Selling at MeiraGTx

In other news, CEO Alexandria Forbes sold 35,839 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.47, for a total transaction of $231,878.33. Following the completion of the sale, the chief executive officer now owns 1,395,102 shares of the company’s stock, valued at approximately $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Giroux sold 24,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.29, for a total value of $150,960.00. Following the transaction, the chief financial officer now directly owns 849,947 shares in the company, valued at approximately $5,346,166.63. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MeiraGTx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its holdings in shares of MeiraGTx by 106.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company’s stock valued at $30,000 after purchasing an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of MeiraGTx by 68.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company’s stock valued at $30,000 after purchasing an additional 2,016 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of MeiraGTx by 142.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock worth $39,000 after acquiring an additional 5,476 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in MeiraGTx during the fourth quarter worth approximately $88,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in MeiraGTx by 97.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,886 shares of the company’s stock valued at $62,000 after buying an additional 7,330 shares during the last quarter. Institutional investors own 67.48% of the company’s stock.

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.