MeiraGTx (NASDAQ:MGTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MeiraGTx (NASDAQ:MGTX - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Chardan Capital reduced their price objective on shares of MeiraGTx from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Royal Bank Of Canada upped their target price on MeiraGTx from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, March 17th.

MeiraGTx Stock Up 4.3%

NASDAQ:MGTX traded up $0.33 during trading hours on Friday, reaching $8.07. 863,720 shares of the stock were exchanged, compared to its average volume of 395,709. The stock has a market cap of $648.51 million, a PE ratio of -3.48 and a beta of 1.24. MeiraGTx has a twelve month low of $3.85 and a twelve month high of $8.75. The firm has a 50 day moving average of $6.08 and a 200 day moving average of $6.31. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.53 and a quick ratio of 1.51.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.13). The business had revenue of $1.93 million for the quarter, compared to analyst estimates of $4.44 million. MeiraGTx had a negative return on equity of 241.05% and a negative net margin of 484.90%. On average, equities analysts expect that MeiraGTx will post -1.48 earnings per share for the current year.

Insider Buying and Selling at MeiraGTx

In related news, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $6.00, for a total transaction of $144,000.00. Following the transaction, the chief financial officer directly owned 882,494 shares in the company, valued at approximately $5,294,964. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MGTX. Sanofi bought a new stake in shares of MeiraGTx in the 4th quarter valued at about $74,284,000. Adage Capital Partners GP L.L.C. increased its position in MeiraGTx by 11.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 5,634,578 shares of the company's stock worth $38,202,000 after buying an additional 600,000 shares during the last quarter. 683 Capital Management LLC raised its stake in MeiraGTx by 6.6% in the first quarter. 683 Capital Management LLC now owns 2,575,000 shares of the company's stock valued at $17,458,000 after buying an additional 160,000 shares during the period. Woodline Partners LP bought a new stake in MeiraGTx in the fourth quarter valued at approximately $9,349,000. Finally, Erste Asset Management GmbH increased its holdings in shares of MeiraGTx by 17.9% during the 1st quarter. Erste Asset Management GmbH now owns 789,702 shares of the company's stock worth $5,366,000 after acquiring an additional 120,000 shares during the last quarter. Institutional investors 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.