MeiraGTx (NASDAQ:MGTX) Issues Quarterly Earnings Results, Beats Estimates By $2.17 EPS

MeiraGTx (NASDAQ:MGTX) released its earnings results on Thursday. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $2.17, FiscalAI reports. The business had revenue of $321.43 million for the quarter, compared to analysts’ expectations of $0.70 million.

MeiraGTx Stock Up 5.9%

Shares of NASDAQ MGTX traded up $0.74 during midday trading on Friday, hitting $13.41. The stock had a trading volume of 208,134 shares, compared to its average volume of 706,620. MeiraGTx has a 1-year low of $6.62 and a 1-year high of $15.35. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.04 and a beta of 1.23. The company has a fifty day moving average price of $12.00 and a 200 day moving average price of $9.80.

Insider Buying and Selling

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

Hedge Funds Weigh In On MeiraGTx

Several hedge funds and other institutional investors have recently made changes to their positions in MGTX. BNP Paribas Financial Markets increased its holdings in MeiraGTx by 43.8% in the 2nd 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 in the last quarter. Kennedy Capital Management LLC lifted its stake in shares of MeiraGTx by 2.2% during the fourth quarter. Kennedy Capital Management LLC now owns 70,738 shares of the company’s stock worth $562,000 after purchasing an additional 1,495 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of MeiraGTx by 4.3% during the third quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after purchasing an additional 3,452 shares in the last quarter. XTX Topco Ltd boosted its position in shares of 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 period. Finally, Hsbc Holdings PLC boosted its position in shares of MeiraGTx by 24.3% in the fourth quarter. Hsbc Holdings PLC now owns 23,792 shares of the company’s stock worth $189,000 after buying an additional 4,649 shares during the period. Institutional investors and hedge funds own 67.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of MeiraGTx in a report on Wednesday, July 8th. Finally, Piper Sandler upped their price target 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. One research 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 has a consensus rating of “Moderate Buy” and an average target price of $26.17.

Trending Headlines about MeiraGTx

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: Strong Q2 results: MeiraGTx reported earnings of $1.71 per share, compared with analysts’ expected loss of $0.46 per share and a year-earlier loss of $0.48. Revenue reached $321.43 million versus a $0.70 million consensus estimate, providing the primary near-term catalyst. Investors may nevertheless examine how much of the revenue and profit is recurring. MeiraGTx Q2 earnings and revenues surpass estimates
• Positive Sentiment: Pipeline and regulatory progress: The FDA granted Breakthrough Therapy Designation to AAV2-hAQP1, while three-year Phase 1 AQUAx data supported continued development for radiation-induced dry mouth. MeiraGTx also expects global regulatory filings for bota-vec in 2026 and potentially a biologics license application for AAV2-hAQP1 in mid-2027. MeiraGTx second-quarter 2026 results
• Positive Sentiment: Expanded commercial opportunity and funding: The company acquired rights to bota-vec for $25 million and secured up to $400 million from Oberland Capital, including as much as $375 million in nondilutive capital to support development and commercialization. MeiraGTx financing and acquisition announcement
• Positive Sentiment: Analyst confidence increased: Royal Bank of Canada raised its price target from $26 to $27 and reiterated an “outperform” rating, implying substantial potential appreciation from recent trading levels. Royal Bank of Canada raises MeiraGTx price target
• Neutral Sentiment: A comparison of MeiraGTx with Biomea Fusion gives investors additional context on biotechnology-sector positioning but does not appear to introduce a material company-specific catalyst. Biomea Fusion and MeiraGTx comparison
• Negative Sentiment: The company also completed a $100 million equity financing, which strengthens liquidity but may dilute existing shareholders. MGTX remains a clinical-stage biotechnology company, leaving valuation dependent on regulatory approvals, clinical execution and future commercialization.

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.