Zacks: MeiraGTx Holdings PLC (MGTX) Given Average Rating of “Strong Buy” by Brokerages

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

Brokerages have set a 12 month consensus price objective of $22.33 for the company and are predicting that the company will post ($0.46) earnings per share for the current quarter, according to Zacks. Zacks has also given MeiraGTx an industry rank of 112 out of 255 based on the ratings given to related companies.

Several equities analysts have commented on MGTX shares. Evercore ISI started coverage on shares of MeiraGTx in a research note on Monday, July 9th. They issued an “outperform” rating and a $21.00 price target on the stock. Zacks Investment Research downgraded shares of MeiraGTx from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Barclays started coverage on shares of MeiraGTx in a research note on Tuesday, July 3rd. They issued an “overweight” rating and a $20.00 price target on the stock. Bank of America started coverage on shares of MeiraGTx in a research note on Tuesday, July 3rd. They issued a “buy” rating on the stock. Finally, Chardan Capital started coverage on shares of MeiraGTx in a research note on Thursday, August 23rd. They issued a “buy” rating on the stock.

Several hedge funds have recently added to or reduced their stakes in MGTX. Dean Capital Investments Management LLC acquired a new position in shares of MeiraGTx in the second quarter valued at about $458,000. FMR LLC acquired a new position in shares of MeiraGTx in the second quarter valued at about $664,000. Luminus Management LLC acquired a new position in shares of MeiraGTx in the second quarter valued at about $2,267,000. Point72 Asset Management L.P. acquired a new position in shares of MeiraGTx in the second quarter valued at about $229,000. Finally, Millennium Management LLC acquired a new position in shares of MeiraGTx in the second quarter valued at about $923,000. Institutional investors and hedge funds own 22.76% of the company’s stock.

NASDAQ:MGTX opened at $12.81 on Friday. MeiraGTx has a one year low of $7.98 and a one year high of $15.49.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($2.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($1.62). 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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