MeiraGTx (NASDAQ:MGTX) Given New $26.00 Price Target at Piper Sandler

MeiraGTx (NASDAQ:MGTX) had its target price decreased 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 presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 244.78% from the stock’s current price.

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

MeiraGTx Stock Up 0.1%

MGTX traded up $0.01 during midday trading on Friday, reaching $7.54. 289,121 shares of the company were exchanged, compared to its average volume of 405,116. 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 company’s fifty day moving average price is $7.57 and its 200 day moving average price is $7.94. The company has a market cap of $606.98 million, a price-to-earnings ratio of -3.59 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 posted its earnings results 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 615.27%.The company had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. As a group, analysts expect that MeiraGTx will post -1.48 EPS for the current year.

Insider Activity at MeiraGTx

In related news, CEO Alexandria Forbes sold 62,000 shares of the business’s stock in a transaction dated 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 directly owned 1,449,695 shares of the company’s stock, valued at approximately $10,742,239.95. The trade was a 4.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.50% of the stock is owned by insiders.

Institutional Trading of MeiraGTx

Hedge funds have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC grew its position in shares of MeiraGTx by 3.8% during the 2nd quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock valued at $229,000 after acquiring an additional 1,287 shares during the period. BNP Paribas Financial Markets lifted its stake in MeiraGTx by 43.8% in the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after purchasing an additional 1,466 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in MeiraGTx by 4.3% during the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock valued at $682,000 after purchasing an additional 3,452 shares during the period. XTX Topco Ltd increased its position in MeiraGTx by 11.0% in the fourth quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock worth $302,000 after buying an additional 3,766 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in MeiraGTx in the third quarter worth $33,000. Institutional investors own 67.48% of the company’s stock.

Key Headlines Impacting 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 endorsement that can accelerate development and commercial potential for a lead program. This is a high-impact clinical catalyst for a gene‑therapy developer. GlobeNewswire Release
• Positive Sentiment: Quarterly results materially beat expectations: EPS $0.19 vs. consensus -$0.60 and revenue $75.36M vs. $3.87M expected — an outsized revenue surprise that likely reflects non‑recurring items or milestone/licensing effects in the release. Strong beats typically lift sentiment for clinical‑stage biotech stocks. Earnings Press Release
• Positive Sentiment: Analyst support picked up: Bank of America raised its price target to $16 with a Buy rating, and Chardan reaffirmed Buy with a $35 target — both call attention to significant upside vs. current levels and can attract investor interest. Benzinga
• Positive Sentiment: Institutional accumulation noted in filings and prior quarter ownership increases (several hedge funds and asset managers added shares), which can support the stock on positive news. MarketBeat Institutional Note
• Negative Sentiment: CEO Alexandria Forbes sold 62,000 shares (approx. $459k at ~$7.41) — an insider sale that some investors view as a cautious signal and which can create short‑term downward pressure. Filing is public. SEC Form 4

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.