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 blindness, as well as Xerostomia following radiation treatment for head and neck cancers; degenerative diseases; neurodegenerative diseases, such as amyotrophic lateral sclerosis; and Parkinson's diseases. Its programs in clinical development include Phase 1/2 clinical stage programs in Achromatopsia, X-Linked Retinitis Pigmentosa, RPE65-deficiency, and radiation-induced Xerostomia, as well as Parkinson's program. The company also focuses on initiating a clinical program in xerostomia related to Sjogren's syndrome and have preclinical programs in neurodegenerative diseases. It has a research collaboration agreement with Janssen Pharmaceuticals, Inc. to develop regulatable gene therapy treatment using the company's proprietary riboswitch technology. MeiraGTx Holdings plc was incorporated in 2015 and is based in New York, New York.
Wall Street Analyst Weigh In
A number of analysts have commented on MGTX shares. Chardan Capital increased their price objective on shares of MeiraGTx from $46.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 12th. Barclays cut their price target on shares of MeiraGTx from $32.00 to $18.00 in a report on Friday, May 13th. Finally, Piper Sandler cut their price target on shares of MeiraGTx from $40.00 to $30.00 in a report on Thursday, May 12th.
MeiraGTx Stock Down 6.9 %
Shares of NASDAQ:MGTX opened at $9.79 on Thursday. The company has a 50 day simple moving average of $8.38 and a 200-day simple moving average of $10.89. The company has a market capitalization of $437.71 million, a P/E ratio of -4.31 and a beta of 1.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.55 and a quick ratio of 1.55. MeiraGTx has a 1 year low of $6.59 and a 1 year high of $24.89.
Insider Transactions at MeiraGTx
In other news, insider Robert K. Zeldin purchased 5,000 shares of the business's stock in a transaction dated Friday, June 3rd. The stock was acquired at an average price of $7.90 per share, for a total transaction of $39,500.00. Following the acquisition, the insider now directly owns 5,000 shares of the company's stock, valued at $39,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.30% of the company's stock.