MeiraGTx (NASDAQ:MGTX) Given New $11.00 Price Target at Royal Bank of Canada

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 morning,Benzinga reports. The brokerage 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 Trading Down 2.4 %

Shares of NASDAQ:MGTX opened at $6.48 on Thursday. MeiraGTx has a 1 year low of $3.85 and a 1 year high of $7.60. The firm has a fifty day moving average price of $5.13 and a 200 day moving average price of $4.79. The company has a current ratio of 2.34, a quick ratio of 2.36 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $506.41 million, a PE ratio of -5.36 and a beta of 1.24.

Institutional Investors Weigh In On MeiraGTx

A number of hedge funds have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of MeiraGTx by 107.1% during the third quarter. Barclays PLC now owns 147,827 shares of the company’s stock valued at $618,000 after purchasing an additional 76,437 shares during the last quarter. State Street Corp boosted its position in MeiraGTx by 0.9% in the 3rd quarter. State Street Corp now owns 574,727 shares of the company’s stock valued at $2,397,000 after buying an additional 5,251 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of MeiraGTx in the 3rd quarter valued at $1,636,000. Erste Asset Management GmbH bought a new stake in shares of MeiraGTx during the third quarter worth $2,795,000. Finally, Knoll Capital Management LLC bought a new position in MeiraGTx in the third quarter valued at about $5,212,000. Institutional investors and hedge funds 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.