Brokerages Set $22.33 Price Target for MeiraGTx Holdings PLC (MGTX)

Shares of MeiraGTx Holdings PLC (NASDAQ:MGTX) have received a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus price target of $22.33 for the company and are anticipating that the company will post ($0.46) EPS for the current quarter, according to Zacks. Zacks has also assigned MeiraGTx an industry rank of 80 out of 255 based on the ratings given to its competitors.

Several brokerages have recently weighed in on MGTX. Chardan Capital began coverage on MeiraGTx in a research report on Thursday, August 23rd. They set a “buy” rating on the stock. Zacks Investment Research upgraded MeiraGTx from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. Evercore ISI began coverage on MeiraGTx in a research report on Monday, July 9th. They set an “outperform” rating and a $21.00 price target on the stock. Barclays began coverage on MeiraGTx in a research report on Tuesday, July 3rd. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Bank of America began coverage on MeiraGTx in a research report on Tuesday, July 3rd. They set a “buy” rating on the stock.

Large investors have recently modified their holdings of the company. Millennium Management LLC purchased a new stake in shares of MeiraGTx during the second quarter valued at $923,000. Point72 Asset Management L.P. purchased a new stake in shares of MeiraGTx during the second quarter valued at $229,000. Luminus Management LLC purchased a new stake in shares of MeiraGTx during the second quarter valued at $2,267,000. FMR LLC purchased a new stake in shares of MeiraGTx during the second quarter valued at $664,000. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of MeiraGTx during the second quarter valued at $458,000. Hedge funds and other institutional investors own 22.76% of the company’s stock.

MeiraGTx stock traded down $0.06 during midday trading on Monday, reaching $13.37. The stock had a trading volume of 25,696 shares, compared to its average volume of 66,026. MeiraGTx has a 12 month low of $7.98 and a 12 month high of $15.49.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($1.62). As a group, sell-side analysts forecast that MeiraGTx will post -4.17 EPS for the current year.

About MeiraGTx

MeiraGTx Holdings plc, an integrated clinical stage gene therapy company, develops various gene therapy products for the lives of patients suffering from acquired and inherited disorders. The company focuses on various areas of unmet medical need comprising inherited retinal diseases, xerostomia, and neurodegenerative diseases.

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