Royal Bank Of Canada Raises MeiraGTx (NASDAQ:MGTX) Price Target to $24.00

MeiraGTx (NASDAQ:MGTX) had its price objective hoisted by equities researchers at Royal Bank Of Canada from $16.00 to $24.00 in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 137.15% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Wall Street Zen raised MeiraGTx from a “sell” rating to a “hold” rating in a research note on Sunday, April 5th. Piper Sandler dropped their price objective on MeiraGTx from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, March 27th. Zacks Research raised MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Bank of America increased their price objective on MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

MeiraGTx Stock Performance

Shares of NASDAQ MGTX opened at $10.12 on Friday. MeiraGTx has a fifty-two week low of $4.55 and a fifty-two week high of $11.85. The company has a market cap of $824.27 million, a price-to-earnings ratio of -7.13 and a beta of 1.27. The business’s 50 day moving average price is $8.11 and its 200-day moving average price is $8.12.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, March 26th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.79. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 140.31%.The company had revenue of $75.36 million for the quarter, compared to analysts’ expectations of $3.87 million. Sell-side analysts predict that MeiraGTx will post -1.48 earnings per share for the current year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, insider Stuart Naylor sold 27,661 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $9.36, for a total transaction of $258,906.96. Following the sale, the insider owned 668,505 shares of the company’s stock, valued at approximately $6,257,206.80. This trade represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total value of $459,420.00. Following the sale, the chief executive officer directly owned 1,449,695 shares in the company, valued at $10,742,239.95. This trade represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of MeiraGTx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in MeiraGTx during the 3rd quarter valued at $33,000. BNP Paribas Financial Markets boosted its position in MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after acquiring an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in MeiraGTx by 390.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after acquiring an additional 7,005 shares in the last quarter. ProShare Advisors LLC bought a new stake in MeiraGTx during the 4th quarter valued at $94,000. Finally, Abel Hall LLC purchased a new stake in shares of MeiraGTx during the 4th quarter valued at $98,000. Institutional investors own 67.48% of the company’s stock.

More MeiraGTx News

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $24 and upgraded MGTX to “Outperform,” signaling substantial analyst conviction and creating a large implied upside versus the current share level. This upgrade can attract momentum buyers and institutional interest. RBC upgrade
• Positive Sentiment: MeiraGTx completed an asset purchase from Johnson & Johnson to reacquire bota-vec (botaretigene sparoparvovec) for X-linked retinitis pigmentosa, restoring full control of that program and potential future value. The company and media also note regained rights tied to an Eli Lilly partnership, which may enhance development/commercial prospects. Acquisition release MSN article
• Positive Sentiment: MeiraGTx reported positive three‑year Phase 1 data for AAV-hAQP1 (treatment for radiation-induced xerostomia). Long-term positive clinical data materially de-risks that program and supports commercial potential, which is a fundamental upside driver. Phase 1 data
• Neutral Sentiment: Analyst and media coverage (transcript/slideshow of investor discussion and Seeking Alpha write-ups) amplifies visibility but is secondary to the underlying clinical and corporate actions. Seeking Alpha transcript
• Negative Sentiment: MeiraGTx priced a $100M underwritten offering of 11,111,111 ordinary shares at $9.00 per share (all shares sold by the company). While proceeds strengthen the balance sheet to fund the reacquisition and programs, the below‑market offering price and dilution are immediate headwinds and can pressure the stock. Offering announcement

About MeiraGTx

MeiraGTx Holdings plc is a clinical-stage biotechnology company dedicated to developing gene therapies for the treatment of rare diseases. Founded in 2014 as an outgrowth of research at University College London, the company focuses on leveraging adeno-associated virus (AAV) vectors to deliver functional genes to target tissues. MeiraGTx’s pipeline spans ocular, central nervous system and systemic indications, addressing conditions such as inherited retinal dystrophies and neurodegenerative disorders that currently lack effective therapies.

The company’s lead programs include AAV-based candidates designed to restore or replace defective genes underlying rare retinal diseases and to modulate cellular pathways in neurological disorders.