MeiraGTx (NASDAQ:MGTX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

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

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

MeiraGTx Price Performance

Shares of MeiraGTx stock opened at $6.48 on Thursday. The company has a 50 day moving average price of $5.13 and a 200 day moving average price of $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 52 week low of $3.85 and a 52 week high of $7.60.

Institutional Investors Weigh In On MeiraGTx

A number of large investors have recently bought and sold shares of the company. Barclays PLC raised its position in MeiraGTx by 107.1% during the 3rd quarter. Barclays PLC now owns 147,827 shares of the company’s stock worth $618,000 after buying an additional 76,437 shares during the last quarter. State Street Corp raised its holdings in shares of MeiraGTx by 0.9% during the third quarter. State Street Corp now owns 574,727 shares of the company’s stock worth $2,397,000 after purchasing an additional 5,251 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in shares of MeiraGTx during the third quarter worth $1,636,000. Erste Asset Management GmbH acquired a new position in MeiraGTx during the third quarter valued at $2,795,000. Finally, Knoll Capital Management LLC purchased a new stake in MeiraGTx in the third quarter valued at $5,212,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

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.