Bank of America Increases MeiraGTx (NASDAQ:MGTX) Price Target to $16.00

MeiraGTx (NASDAQ:MGTX) had its target price upped by research analysts at Bank of America from $14.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 116.71% from the company’s current price.

Several other brokerages also recently weighed in on MGTX. Chardan Capital restated a “buy” rating and set a $35.00 target price on shares of MeiraGTx in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Finally, Zacks Research raised MeiraGTx from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MeiraGTx currently has an average rating of “Moderate Buy” and an average target price of $24.33.

MeiraGTx Stock Down 2.0%

MGTX traded down $0.15 during trading on Friday, hitting $7.38. The stock had a trading volume of 117,478 shares, compared to its average volume of 401,671. The stock has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $7.94. The company has a debt-to-equity ratio of 26.29, a quick ratio of 0.22 and a current ratio of 0.22. MeiraGTx has a twelve month low of $4.55 and a twelve month high of $9.73. The company has a market capitalization of $594.27 million, a PE ratio of -3.50 and a beta of 1.37.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $75.36 million for the quarter, compared to the consensus estimate of $3.87 million. On average, research analysts predict that MeiraGTx will post -1.48 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On MeiraGTx

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 1,466 shares during the period. State of Alaska Department of Revenue acquired a new stake in MeiraGTx during the 3rd quarter worth about $33,000. Tower Research Capital LLC TRC lifted its position in MeiraGTx by 390.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after acquiring an additional 7,005 shares during the period. ProShare Advisors LLC purchased a new stake in MeiraGTx during the 4th quarter valued at about $94,000. Finally, Abel Hall LLC purchased a new stake in MeiraGTx during the 4th quarter valued at about $98,000. 67.48% of the stock is owned by hedge funds and other institutional investors.

MeiraGTx News Summary

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: Quarterly results materially beat expectations: MeiraGTx reported $0.19 EPS vs. consensus loss of ($0.60) and revenue of $75.36M vs. ~$3.87M expected — a surprise that likely buoyed the stock by validating near-term commercial/recurring revenue drivers. Quarterly Press Release
• Positive Sentiment: FDA granted Breakthrough Therapy Designation for AAV2‑hAQP1 to treat Grade 2/3 radiation‑induced xerostomia — a regulatory win that can accelerate development and enhance the program’s commercial value. GlobeNewswire Release
• Positive Sentiment: Chardan Capital reaffirmed a Buy and set a $35 price target — a very bullish analyst projection (large percentage upside) that may support investor interest and higher trading volume. Benzinga Note
• Positive Sentiment: Institutional ownership rising: recent 4Q moves show large purchases by Rubric Capital, Millennium and others — heavy institutional inflows can provide demand support for the shares. MarketBeat Holdings Note
• Neutral Sentiment: Analyst coverage mixed: Zacks upgraded MGTX to Hold from Strong Sell, and consensus ratings range from Sell to Strong Buy — implies diverging views that could keep volatility elevated. Zacks Article
• Negative Sentiment: Insider selling: CEO Alexandria Forbes sold 62,000 shares (~$459K) last week — a disclosure that can create short‑term caution among investors despite remaining significant insider ownership. SEC Form 4
• Negative Sentiment: Profitability metrics remain poor on a GAAP basis: company reported very negative net margin and ROE figures, which underscore ongoing operational losses and execution risk despite the revenue beat. Quarterly Press Release

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.