MeiraGTx (NASDAQ:MGTX) Given New $13.00 Price Target at Royal Bank of Canada

MeiraGTx (NASDAQ:MGTX - Get Free Report) had its price target boosted by equities research analysts at Royal Bank of Canada from $11.00 to $13.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price target would suggest a potential upside of 71.96% from the stock's current price.

Separately, Chardan Capital restated a "buy" rating and issued a $36.00 target price on shares of MeiraGTx in a report on Monday, February 24th.

MeiraGTx Trading Down 1.2 %

NASDAQ MGTX traded down $0.09 during trading hours on Monday, hitting $7.56. 849,485 shares of the company were exchanged, compared to its average volume of 271,492. MeiraGTx has a 52 week low of $3.85 and a 52 week high of $8.75. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $6.65 and a 200 day moving average price of $5.91. The stock has a market cap of $596.14 million, a PE ratio of -6.25, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.02). The company had revenue of $21.39 million for the quarter, compared to the consensus estimate of $1.50 million. MeiraGTx had a negative net margin of 633.05% and a negative return on equity of 146.38%. Analysts forecast that MeiraGTx will post -1.48 earnings per share for the current fiscal year.

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Insider Transactions at MeiraGTx

In other MeiraGTx news, CFO Richard Giroux sold 24,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.29, for a total value of $150,960.00. Following the completion of the sale, the chief financial officer now directly owns 849,947 shares of the company's stock, valued at $5,346,166.63. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alexandria Forbes sold 35,839 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $6.47, for a total transaction of $231,878.33. Following the transaction, the chief executive officer now directly owns 1,395,102 shares in the company, valued at approximately $9,026,309.94. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MGTX. Summit Investment Advisors Inc. lifted its holdings in shares of MeiraGTx by 106.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,871 shares of the company's stock worth $30,000 after buying an additional 2,515 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of MeiraGTx by 68.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,975 shares of the company's stock valued at $30,000 after acquiring an additional 2,016 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in MeiraGTx by 142.5% in the third quarter. BNP Paribas Financial Markets now owns 9,319 shares of the company's stock worth $39,000 after acquiring an additional 5,476 shares during the period. Polymer Capital Management US LLC bought a new position in MeiraGTx during the 4th quarter worth about $88,000. Finally, China Universal Asset Management Co. Ltd. increased its position in MeiraGTx by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,571 shares of the company's stock valued at $101,000 after purchasing an additional 1,685 shares during the period. Institutional investors own 67.48% of the company's stock.

MeiraGTx Company Profile

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.