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

Key Points

• Chardan Capital reiterated a "Buy" rating on MeiraGTx with a $35 price target, implying roughly a 364.8% upside versus the stock's current levels.
• MeiraGTx is trading near $7.53 with a market cap of about $606.1M and a negative P/E (-3.57); analysts' consensus is a "Moderate Buy" with an average target of $26, and the company shows weak liquidity (current ratio 0.22).
• Insider activity: CEO Alexandria Forbes sold 62,000 shares at an average $7.41 (about $459K), reducing her stake by 4.1%; insiders own 7.5% while institutions hold ~67.5% of the stock.

MeiraGTx (NASDAQ:MGTX - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $35.00 price objective on the stock. Chardan Capital's price target indicates a potential upside of 364.81% from the company's current price.

Several other equities research analysts also recently issued reports on the company. Zacks Research upgraded MeiraGTx from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MeiraGTx in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, MeiraGTx has a consensus rating of "Moderate Buy" and an average target price of $26.00.

MeiraGTx Stock Down 1.2%

MGTX opened at $7.53 on Friday. The company has a 50 day moving average of $7.57 and a 200 day moving average of $7.94. The company has a market cap of $606.10 million, a PE ratio of -3.57 and a beta of 1.37. MeiraGTx has a 12 month low of $4.55 and a 12 month high of $9.73. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29.

Insider Transactions at MeiraGTx

In other news, CEO Alexandria Forbes sold 62,000 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total transaction of $459,420.00. Following the completion of the transaction, the chief executive officer directly owned 1,449,695 shares in the company, valued at $10,742,239.95. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MeiraGTx

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in shares of MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company's stock valued at $31,000 after buying an additional 1,466 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in MeiraGTx in the third quarter worth approximately $33,000. Tower Research Capital LLC TRC boosted its stake in MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company's stock worth $57,000 after buying an additional 7,005 shares in the last quarter. ProShare Advisors LLC bought a new position in MeiraGTx during the fourth quarter valued at approximately $94,000. Finally, Abel Hall LLC bought a new position in MeiraGTx during the fourth quarter valued at approximately $98,000. Institutional investors own 67.48% of the company's stock.

MeiraGTx Company Profile

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx's pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company's lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.

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