Chardan Capital Reiterates Buy Rating for MeiraGTx (NASDAQ:MGTX)

MeiraGTx (NASDAQ:MGTX)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a note issued to investors on Monday,Benzinga reports. They currently have a $36.00 target price on the stock.

Separately, Royal Bank of Canada increased their target price on MeiraGTx from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, November 14th.

MeiraGTx Price Performance

MGTX opened at $5.98 on Monday. The stock has a fifty day moving average of $5.21 and a 200-day moving average of $4.81. The firm has a market capitalization of $467.34 million, a P/E ratio of -4.94 and a beta of 1.24. MeiraGTx has a 12-month low of $3.85 and a 12-month high of $7.60. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86.

Institutional Trading of MeiraGTx

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in MeiraGTx during the first quarter valued at $25,000. BNP Paribas Financial Markets boosted its position in MeiraGTx by 142.5% during the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company’s stock valued at $39,000 after purchasing an additional 5,476 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted 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 valued at $62,000 after purchasing an additional 7,330 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in MeiraGTx during the first quarter valued at $100,000. Finally, The Manufacturers Life Insurance Company boosted 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 valued at $75,000 after purchasing an additional 2,839 shares during the last quarter. Institutional investors and hedge funds own 67.48% of the company’s stock.

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.