MeiraGTx (NASDAQ:MGTX) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded MeiraGTx (NASDAQ:MGTX) from a "strong sell" to a "hold" rating in a research note issued Monday.
• Analyst coverage is mixed but leans positive—one Strong Buy, four Buy, one Hold and one Sell produce an average rating of "Moderate Buy" with an average price target of $26, and several firms (Piper Sandler, RBC, Chardan, HC Wainwright) recently raised targets.
• Shares opened at $7.76 with a market cap of $624.6M and a 1‑year range of $4.55–$9.73, while the company shows strained liquidity (current and quick ratios of 0.22) and a very high reported debt‑to‑equity of 26.29.

MeiraGTx (NASDAQ:MGTX - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler boosted their price objective on shares of MeiraGTx from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, November 11th. Royal Bank Of Canada lifted their price target on shares of MeiraGTx from $12.00 to $16.00 and gave the stock an "outperform" rating in a research report on Friday, November 14th. Chardan Capital restated a "buy" rating and issued a $35.00 price objective on shares of MeiraGTx in a research report on Tuesday, November 11th. HC Wainwright initiated coverage on MeiraGTx in a report on Monday, November 24th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Wall Street Zen downgraded MeiraGTx from a "hold" rating to a "sell" rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $26.00.

MeiraGTx Price Performance

MeiraGTx stock opened at $7.76 on Monday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. The firm has a market capitalization of $624.60 million, a P/E ratio of -3.68 and a beta of 1.37. The business has a 50-day moving average of $7.59 and a 200-day moving average of $7.94. MeiraGTx has a 1 year low of $4.55 and a 1 year high of $9.73.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC raised its position in MeiraGTx by 3.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company's stock valued at $229,000 after buying an additional 1,287 shares during the last quarter. BNP Paribas Financial Markets grew its stake 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 worth $31,000 after acquiring an additional 1,466 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of MeiraGTx by 4.3% in the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company's stock valued at $682,000 after purchasing an additional 3,452 shares during the last quarter. XTX Topco Ltd lifted its position in shares of MeiraGTx by 11.0% in the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company's stock worth $302,000 after purchasing an additional 3,766 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in MeiraGTx during the third quarter worth $33,000. 67.48% of the stock is currently owned by institutional investors.

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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