MeiraGTx Holdings PLC (MGTX) Given $22.33 Consensus Target Price by Analysts

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MeiraGTx Holdings PLC (NASDAQ:MGTX) has earned an average broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price objective of $22.33 for the company and are predicting that the company will post ($0.46) earnings per share for the current quarter, according to Zacks. Zacks has also assigned MeiraGTx an industry rank of 94 out of 255 based on the ratings given to related companies.

A number of brokerages recently weighed in on MGTX. Zacks Investment Research cut shares of MeiraGTx from a “hold” rating to a “sell” rating in a research report on Thursday. Chardan Capital began coverage on shares of MeiraGTx in a research report on Thursday, August 23rd. They issued a “buy” rating for the company. Evercore ISI began coverage on shares of MeiraGTx in a research report on Monday, July 9th. They issued an “outperform” rating and a $21.00 price target for the company. Bank of America began coverage on shares of MeiraGTx in a research report on Tuesday, July 3rd. They issued a “buy” rating for the company. Finally, Barclays began coverage on shares of MeiraGTx in a research report on Tuesday, July 3rd. They issued an “overweight” rating and a $20.00 price target for the company.

In related news, Director Life Sciences Maste Perceptive purchased 1,383,333 shares of MeiraGTx stock in a transaction that occurred on Tuesday, June 12th. The stock was purchased at an average cost of $15.01 per share, with a total value of $20,763,828.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of MeiraGTx in the second quarter valued at about $229,000. Dean Capital Investments Management LLC purchased a new stake in shares of MeiraGTx in the second quarter valued at about $458,000. FMR LLC purchased a new stake in shares of MeiraGTx in the second quarter valued at about $664,000. Millennium Management LLC purchased a new stake in shares of MeiraGTx in the second quarter valued at about $923,000. Finally, Luminus Management LLC purchased a new stake in shares of MeiraGTx in the second quarter valued at about $2,267,000. 22.76% of the stock is owned by institutional investors and hedge funds.

Shares of MGTX stock traded up $0.13 on Friday, reaching $11.96. 39,298 shares of the stock were exchanged, compared to its average volume of 40,761. MeiraGTx has a twelve month low of $7.98 and a twelve month high of $15.49.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($1.62). sell-side analysts anticipate that MeiraGTx will post -4.17 earnings per share for the current year.

About MeiraGTx

MeiraGTx Holdings plc, an integrated clinical stage gene therapy company, develops various gene therapy products for the lives of patients suffering from acquired and inherited disorders. The company focuses on various areas of unmet medical need comprising inherited retinal diseases, xerostomia, and neurodegenerative diseases.

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