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

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

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

MeiraGTx Trading Down 2.0%

Shares of MGTX stock traded down $0.15 on Friday, reaching $7.38. 117,478 shares of the company’s stock were exchanged, compared to its average volume of 401,671. MeiraGTx has a 52 week low of $4.55 and a 52 week high of $9.73. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 26.29. The stock has a market capitalization of $594.27 million, a PE ratio of -3.50 and a beta of 1.37. The company’s fifty day simple moving average is $7.57 and its 200 day simple moving average is $7.94.

MeiraGTx (NASDAQ:MGTX) last released its earnings results on Thursday, March 26th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.79. The business had revenue of $75.36 million during the quarter, compared to the consensus estimate of $3.87 million. MeiraGTx had a negative return on equity of 1,065.47% and a negative net margin of 615.27%. As a group, analysts forecast that MeiraGTx will post -1.48 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Alexandria Forbes sold 62,000 shares of the company’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 completion of the sale, the chief executive officer directly owned 1,449,695 shares of the company’s stock, valued at $10,742,239.95. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MeiraGTx

A number of large investors have recently bought and sold shares of MGTX. BNP Paribas Financial Markets lifted its holdings in MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after buying an additional 1,466 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of MeiraGTx in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC increased its holdings in shares of MeiraGTx by 390.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after acquiring an additional 7,005 shares during the period. ProShare Advisors LLC bought a new position in shares of MeiraGTx in the 4th quarter worth $94,000. Finally, Abel Hall LLC purchased a new stake in shares of MeiraGTx during the 4th quarter worth $98,000. 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: 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.