MeiraGTx (NASDAQ:MGTX) Announces Earnings Results

MeiraGTx (NASDAQ:MGTX) issued its quarterly earnings data on Thursday. The company reported $1.71 EPS for the quarter, beating the consensus estimate of ($0.46) by $2.17, FiscalAI reports. The company had revenue of $321.43 million for the quarter, compared to analyst estimates of $0.70 million. MeiraGTx had a negative return on equity of 226.79% and a net margin of 19.87%.

MeiraGTx Trading Up 6.7%

NASDAQ MGTX traded up $0.85 on Friday, reaching $13.52. 809,173 shares of the company were exchanged, compared to its average volume of 452,510. The business’s fifty day moving average price is $12.09 and its 200 day moving average price is $9.82. The stock has a market capitalization of $1.25 billion, a P/E ratio of 19.04 and a beta of 1.23. MeiraGTx has a fifty-two week low of $6.62 and a fifty-two week high of $15.35.

Key Headlines Impacting MeiraGTx

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: RBC raised its price target to $27 from $26 and maintained an “outperform” rating. The new target implies substantial potential upside from the reported $13.52 trading level, providing a bullish signal from a major analyst. Benzinga
• Positive Sentiment: MeiraGTx reported second-quarter EPS of $1.71, significantly exceeding consensus expectations for a loss. Revenue reached $321.43 million versus an analyst estimate of approximately $0.70 million, and the company swung to a quarterly profit from a year-earlier loss. The magnitude of the beat is likely a key driver of the stock’s advance, though investors may assess how much of the results reflects recurring operations versus nonrecurring items. MeiraGTx Swings to Q2 Profit, Revenue Rises
• Positive Sentiment: The company received FDA Breakthrough Therapy Designation for AAV2-hAQP1 and reported positive three-year Phase 1 AQUAx data for radiation-induced dry mouth. It also acquired rights to bota-vec for X-linked retinitis pigmentosa and expects global regulatory filings in 2026, with a potential AAV2-hAQP1 BLA filing in mid-2027. MeiraGTx Reports Second Quarter 2026 Financial and Operational Results
• Neutral Sentiment: A comparison of MeiraGTx with Biomea Fusion provides sector context but does not introduce a new company-specific catalyst. Head-To-Head Survey: Biomea Fusion and MeiraGTx
• Negative Sentiment: MeiraGTx funded the bota-vec acquisition with a $100 million equity financing, which may create shareholder dilution. However, the transaction also includes up to $400 million of strategic investment, including as much as $375 million in non-dilutive capital.

Insiders Place Their Bets

In other news, CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total transaction of $700,560.00. Following the transaction, the chief financial officer owned 908,530 shares in the company, valued at $11,365,710.30. The trade was a 5.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $9.17, for a total transaction of $568,540.00. Following the transaction, the chief executive officer directly owned 1,387,695 shares in the company, valued at approximately $12,725,163.15. The trade was a 4.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 145,659 shares of company stock valued at $1,678,453 in the last three months. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MeiraGTx

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after buying an additional 1,466 shares during the last quarter. Kennedy Capital Management LLC grew its position in MeiraGTx by 2.2% in the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after acquiring an additional 1,495 shares during the period. Russell Investments Group Ltd. grew its position in MeiraGTx by 4.3% in the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after acquiring an additional 3,452 shares during the period. XTX Topco Ltd increased its stake in MeiraGTx by 11.0% during the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock worth $302,000 after acquiring an additional 3,766 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in MeiraGTx by 24.3% during the fourth quarter. Hsbc Holdings PLC now owns 23,792 shares of the company’s stock worth $189,000 after acquiring an additional 4,649 shares during the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MGTX. Wall Street Zen upgraded MeiraGTx from a “hold” rating to a “buy” rating in a research report on Saturday. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of MeiraGTx in a report on Wednesday, July 8th. Piper Sandler upped their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Zacks Research upgraded shares of MeiraGTx from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada boosted their target price on shares of MeiraGTx from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.17.

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.