MeiraGTx (NASDAQ:MGTX) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of MeiraGTx (NASDAQ:MGTX) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Royal Bank Of Canada increased their target price on shares of MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler raised their target price on shares of MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of MeiraGTx in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $26.17.

MeiraGTx Trading Up 6.7%

Shares of NASDAQ MGTX opened at $13.52 on Friday. MeiraGTx has a twelve month low of $6.62 and a twelve month high of $15.35. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 19.04 and a beta of 1.23. The business has a 50 day simple moving average of $12.09 and a 200-day simple moving average of $9.82.

MeiraGTx (NASDAQ:MGTX) last released its quarterly earnings data on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $2.17. MeiraGTx had a net margin of 19.87% and a negative return on equity of 226.79%. The firm had revenue of $321.43 million for the quarter, compared to analyst estimates of $0.70 million. As a group, equities analysts predict that MeiraGTx will post -0.48 earnings per share 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 that occurred on Tuesday, May 19th. The stock was sold at an average price of $9.17, for a total value of $568,540.00. Following the completion of the sale, the chief executive officer owned 1,387,695 shares of the company’s stock, valued at approximately $12,725,163.15. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stuart Naylor sold 27,659 shares of MeiraGTx stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $14.80, for a total transaction of $409,353.20. Following the completion of the sale, the insider owned 640,846 shares of the company’s stock, valued at $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 145,659 shares of company stock valued at $1,678,453. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

A number of institutional investors have recently modified their holdings of MGTX. Algert Global LLC increased its position in MeiraGTx by 13.9% in the 2nd quarter. Algert Global LLC now owns 11,700 shares of the company’s stock worth $158,000 after buying an additional 1,430 shares during the period. BNP Paribas Financial Markets boosted its position in shares of 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 acquiring an additional 1,466 shares during the period. Kennedy Capital Management LLC grew its stake in shares of 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 last quarter. Russell Investments Group Ltd. grew its stake in shares of 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 last quarter. Finally, XTX Topco Ltd increased its position 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 period. Institutional investors own 67.48% of the company’s stock.

MeiraGTx News Roundup

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.

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.