MeiraGTx (NASDAQ:MGTX) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of MeiraGTx (NASDAQ:MGTX) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

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

MeiraGTx Stock Performance

Shares of MeiraGTx stock opened at $13.52 on Thursday. The company has a market capitalization of $1.25 billion, a P/E ratio of 19.04 and a beta of 1.23. The company has a fifty day moving average of $12.09 and a 200 day moving average 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 issued its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. The business had revenue of $321.43 million during the quarter, compared to analyst estimates of $0.70 million. MeiraGTx had a negative return on equity of 226.79% and a net margin of 19.87%. Analysts forecast that MeiraGTx will post -1.69 EPS for the current year.

Insider Activity

In other news, insider Stuart Naylor sold 27,659 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total transaction of $409,353.20. Following the completion of the transaction, the insider owned 640,846 shares in the company, valued at $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total value 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. This trade represents a 5.81% 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. Insiders sold a total of 145,659 shares of company stock worth $1,678,453 over the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of MeiraGTx

A number of large investors have recently added to or reduced their stakes in MGTX. BNP Paribas Financial Markets raised its holdings in shares of MeiraGTx by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after acquiring an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company’s stock valued at $57,000 after purchasing an additional 7,005 shares in the last quarter. ProShare Advisors LLC bought a new stake in MeiraGTx in the fourth quarter worth $94,000. Abel Hall LLC bought a new stake in MeiraGTx in the fourth quarter worth $98,000. Finally, Bank of Nova Scotia purchased a new stake in MeiraGTx during the first quarter valued at $105,000. 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: 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.