MeiraGTx (NASDAQ:MGTX) Price Target Raised to $11.00

MeiraGTx (NASDAQ:MGTX) had its price target raised by Royal Bank of Canada from $9.00 to $11.00 in a report released on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, Chardan Capital reiterated a “buy” rating and issued a $36.00 target price on shares of MeiraGTx in a report on Wednesday, July 31st.

MeiraGTx Price Performance

Shares of NASDAQ:MGTX opened at $6.48 on Thursday. The firm’s 50 day simple moving average is $5.13 and its 200-day simple moving average is $4.80. The company has a quick ratio of 2.36, a current ratio of 2.34 and a debt-to-equity ratio of 0.86. MeiraGTx has a one year low of $3.85 and a one year high of $7.60.

Institutional Trading of MeiraGTx

A number of hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in shares of MeiraGTx by 73.9% in the 1st quarter. BNP Paribas Financial Markets now owns 19,242 shares of the company’s stock worth $117,000 after acquiring an additional 8,178 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in MeiraGTx by 1.9% in the first quarter. Russell Investments Group Ltd. now owns 157,999 shares of the company’s stock worth $959,000 after purchasing an additional 2,994 shares in the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of MeiraGTx by 16.3% during the first quarter. Tocqueville Asset Management L.P. now owns 39,500 shares of the company’s stock valued at $240,000 after buying an additional 5,550 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of MeiraGTx by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 323,891 shares of the company’s stock valued at $1,966,000 after buying an additional 11,470 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of MeiraGTx in the 1st quarter worth approximately $25,000. Hedge funds and other 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.