Chardan Capital Reiterates “Buy” Rating for MeiraGTx (NASDAQ:MGTX)

MeiraGTx (NASDAQ:MGTX)‘s stock had its “buy” rating restated by Chardan Capital in a report released on Friday,Benzinga reports. They currently have a $35.00 price target on the stock. Chardan Capital’s price objective suggests a potential upside of 359.32% from the stock’s current price.

A number of other research firms also recently issued reports on MGTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Zacks Research raised MeiraGTx from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MeiraGTx currently has an average rating of “Moderate Buy” and an average target price of $23.67.

MeiraGTx Price Performance

Shares of MGTX opened at $7.62 on Friday. MeiraGTx has a 12-month low of $4.55 and a 12-month high of $9.73. The business’s fifty day moving average is $7.58 and its 200 day moving average is $7.94. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29. The stock has a market cap of $613.33 million, a P/E ratio of -5.37 and a beta of 1.37.

MeiraGTx (NASDAQ:MGTX) last released 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. The firm had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. MeiraGTx had a negative net margin of 140.31% and a negative return on equity of 1,065.47%. Sell-side analysts anticipate that MeiraGTx will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On MeiraGTx

Several institutional investors have recently modified their holdings of MGTX. BNP Paribas Financial Markets increased its position in shares of MeiraGTx by 43.8% during the second 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 during the last quarter. State of Alaska Department of Revenue bought a new position in MeiraGTx in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 7,005 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of MeiraGTx during the 4th quarter valued at $94,000. Finally, Abel Hall LLC bought a new stake in shares of MeiraGTx during the 4th quarter worth $98,000. 67.48% of the stock is owned by institutional investors.

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.