Piper Sandler Lowers MeiraGTx (NASDAQ:MGTX) Price Target to $26.00

MeiraGTx (NASDAQ:MGTX) had its target price lowered by stock analysts at Piper Sandler from $30.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 241.21% from the stock’s current price.

A number of other brokerages have also commented on MGTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Chardan Capital restated a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a research note on Friday. Zacks Research raised shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, Bank of America increased their price objective on shares of MeiraGTx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

MeiraGTx Stock Performance

Shares of MGTX opened at $7.62 on Friday. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a 50-day moving average of $7.58 and a two-hundred day moving average of $7.94. The stock has a market cap of $613.33 million, a P/E ratio of -5.37 and a beta of 1.37. MeiraGTx has a one year low of $4.55 and a one year high of $9.73.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings data on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. As a group, research analysts predict that MeiraGTx will post -1.48 EPS for the current year.

Insider Buying and Selling at MeiraGTx

In other news, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $7.41, for a total transaction of $459,420.00. Following the sale, the chief executive officer directly owned 1,449,695 shares of the company’s stock, valued at $10,742,239.95. This represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

Institutional investors and hedge funds have recently modified their holdings of the business. 683 Capital Management LLC boosted its position in MeiraGTx by 4.5% during the second quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company’s stock worth $17,539,000 after purchasing an additional 115,000 shares in the last quarter. AMH Equity Ltd purchased a new stake in shares of MeiraGTx in the third quarter valued at approximately $658,000. 22NW LP acquired a new position in shares of MeiraGTx during the 2nd quarter worth approximately $3,824,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of MeiraGTx during the 4th quarter worth approximately $176,000. Finally, Privium Fund Management B.V. lifted its position in shares of MeiraGTx by 22.7% during the 4th quarter. Privium Fund Management B.V. now owns 200,000 shares of the company’s stock valued at $1,590,000 after buying an additional 37,000 shares in the last quarter. Hedge funds and other institutional investors own 67.48% of the company’s stock.

MeiraGTx News Summary

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: FDA granted Breakthrough Therapy Designation to AAV2-hAQP1 for Grade 2/3 radiation-induced xerostomia — a major regulatory de-risking and potential acceleration pathway for the program. MeiraGTx Announces FDA Breakthrough Therapy Designation (GlobeNewswire)
• Positive Sentiment: Q4 results materially beat estimates — GAAP EPS $0.19 vs. a consensus loss and revenue of $75.36M vs. a ~$3.9M consensus — this large upside explains renewed investor optimism around near-term milestones and cash generation. Q4 Press Release (Quartr)
• Positive Sentiment: Multiple broker actions supportive of upside: Chardan reaffirmed a Buy with a $35 target (large upside) and Bank of America raised its target from $14 to $16 and maintains a Buy — these notes add analyst support for higher share valuations. Analyst Notes (Benzinga)
• Neutral Sentiment: Piper Sandler lowered its target from $30 to $26 but kept an Overweight rating — still bullish overall, but the cut tempers upside expectations vs. some peers. Piper Sandler / TickerReport
• Neutral Sentiment: MeiraGTx presented at the RBC Virtual Ophthalmology Conference (transcript available) — useful for incremental program updates but not a discrete catalyst like the Breakthrough designation. RBC Conference Transcript (Seeking Alpha)
• Negative Sentiment: CEO Alexandria Forbes sold 62,000 shares (~$459k), a disclosed insider sale that may concern some investors even though insiders still hold substantial positions. Insider Sale Report (InsiderTrades)

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.