MeiraGTx (NASDAQ:MGTX – Get Free Report) had its price target raised by stock analysts at Bank of America from $14.00 to $16.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 109.97% from the company’s previous close.
A number of other research analysts also recently weighed in on MGTX. Zacks Research upgraded shares of MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MeiraGTx in a research report on Thursday, January 22nd. Finally, Chardan Capital reiterated a “buy” rating and set a $35.00 target price on shares of MeiraGTx in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.67.
View Our Latest Analysis on MGTX
MeiraGTx Price Performance
MeiraGTx (NASDAQ:MGTX – Get Free Report) last posted its earnings results on Thursday, March 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.79. The business had revenue of $75.36 million for the quarter, compared to analysts’ expectations of $3.87 million. MeiraGTx had a negative net margin of 140.31% and a negative return on equity of 1,065.47%. On average, sell-side analysts forecast that MeiraGTx will post -1.48 EPS for the current year.
Insider Activity at MeiraGTx
In other news, CEO Alexandria Forbes sold 62,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,449,695 shares in the company, valued at $10,742,239.95. This represents a 4.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.50% of the stock is owned by insiders.
Institutional Trading of MeiraGTx
Several large investors have recently added to or reduced their stakes in the business. 683 Capital Management LLC raised its position in MeiraGTx by 4.5% in the second quarter. 683 Capital Management LLC now owns 2,690,000 shares of the company’s stock worth $17,539,000 after acquiring an additional 115,000 shares during the period. AMH Equity Ltd bought a new stake in shares of MeiraGTx during the 3rd quarter valued at $658,000. 22NW LP bought a new stake in shares of MeiraGTx during the 2nd quarter valued at $3,824,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of MeiraGTx by 69.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 108,981 shares of the company’s stock worth $897,000 after purchasing an additional 44,854 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in MeiraGTx by 3.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock worth $229,000 after purchasing an additional 1,287 shares during the period. 67.48% of the stock is currently owned by institutional investors.
Trending Headlines about MeiraGTx
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)
MeiraGTx Company Profile
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.
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