MeiraGTx (NASDAQ:MGTX) Earns Buy Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of MeiraGTx (NASDAQ:MGTX) in a report issued on Wednesday, Marketbeat.com reports. They currently have a $36.00 target price on the stock.

MeiraGTx Price Performance

Shares of MGTX opened at $4.78 on Wednesday. MeiraGTx has a 1-year low of $3.49 and a 1-year high of $7.60. The stock has a market cap of $307.40 million, a PE ratio of -4.09 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a fifty day moving average price of $4.60 and a 200 day moving average price of $5.40.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.45). MeiraGTx had a negative net margin of 651.19% and a negative return on equity of 122.82%. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $16.38 million. As a group, sell-side analysts anticipate that MeiraGTx will post -1.52 EPS for the current year.

Institutional Investors Weigh In On MeiraGTx

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of MeiraGTx in the first quarter valued at about $706,000. Sierra Summit Advisors LLC purchased a new stake in shares of MeiraGTx in the fourth quarter valued at about $252,000. Russell Investments Group Ltd. raised its holdings in shares of MeiraGTx by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 157,999 shares of the company’s stock valued at $959,000 after buying an additional 2,994 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of MeiraGTx by 383.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,354 shares of the company’s stock valued at $52,000 after buying an additional 5,832 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of MeiraGTx by 30.8% in the fourth quarter. SG Americas Securities LLC now owns 15,950 shares of the company’s stock valued at $112,000 after buying an additional 3,755 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.

About MeiraGTx

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.