MeiraGTx (NASDAQ:MGTX) Given Buy Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of MeiraGTx (NASDAQ:MGTX) in a research note issued to investors on Wednesday, MarketBeat reports. Chardan Capital currently has a $36.00 price objective on the stock.

MeiraGTx Stock Down 2.0 %

NASDAQ:MGTX opened at $4.78 on Wednesday. MeiraGTx has a one year low of $3.49 and a one year high of $7.60. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.69. The firm’s 50 day simple moving average is $4.60 and its 200 day simple moving average is $5.40.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in shares of MeiraGTx during the 1st quarter valued at $706,000. Sierra Summit Advisors LLC acquired a new position in shares of MeiraGTx during the 4th quarter valued at $252,000. Russell Investments Group Ltd. lifted its position in shares of MeiraGTx by 1.9% during the 1st quarter. Russell Investments Group Ltd. now owns 157,999 shares of the company’s stock valued at $959,000 after acquiring an additional 2,994 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of MeiraGTx by 383.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,354 shares of the company’s stock valued at $52,000 after acquiring an additional 5,832 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of MeiraGTx by 30.8% during the 4th quarter. SG Americas Securities LLC now owns 15,950 shares of the company’s stock valued at $112,000 after acquiring an additional 3,755 shares during the period. 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.