MeiraGTx (NASDAQ:MGTX) Upgraded by Zacks Research to “Strong-Buy” Rating

MeiraGTx (NASDAQ:MGTX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on MGTX. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of MeiraGTx in a report on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. Piper Sandler raised their price target on MeiraGTx from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada lifted their price objective on MeiraGTx from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wall Street Zen raised MeiraGTx from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $26.17.

MeiraGTx Stock Performance

Shares of NASDAQ:MGTX opened at $13.52 on Thursday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 19.04 and a beta of 1.23. The firm has a fifty day moving average price of $12.09 and a 200 day moving average price of $9.82. MeiraGTx has a fifty-two week low of $6.62 and a fifty-two week high of $15.35.

MeiraGTx (NASDAQ:MGTX) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $2.17. The company had revenue of $321.43 million for the quarter, compared to the consensus estimate of $0.70 million. MeiraGTx had a net margin of 19.87% and a negative return on equity of 226.79%. As a group, research analysts predict that MeiraGTx will post -1.69 earnings per share for the current year.

Insider Activity at MeiraGTx

In related news, CFO Richard Giroux sold 56,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total value of $700,560.00. Following the completion of the transaction, the chief financial officer owned 908,530 shares of the company’s stock, valued at approximately $11,365,710.30. This trade represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 MeiraGTx stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. 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. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On MeiraGTx

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock valued at $31,000 after buying an additional 1,466 shares during the period. Tower Research Capital LLC TRC boosted its stake in MeiraGTx by 390.9% during the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock worth $57,000 after buying an additional 7,005 shares during the period. ProShare Advisors LLC purchased a new position in MeiraGTx during the fourth quarter worth $94,000. Abel Hall LLC bought a new position in MeiraGTx during the fourth quarter valued at $98,000. Finally, Bank of Nova Scotia bought a new position in MeiraGTx during the first quarter valued at $105,000. Hedge funds and other 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.