MeiraGTx (NASDAQ:MGTX) Trading 8.4% Higher Following Strong Earnings

MeiraGTx Holdings PLC (NASDAQ:MGTX)’s stock price shot up 8.4% on Friday following a better than expected earnings announcement. The company traded as high as $13.75 and last traded at $13.7350. 405,542 shares changed hands during trading, a decline of 43% from the average daily volume of 707,751 shares. The stock had previously closed at $12.67.

The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $2.17. The firm had revenue of $321.43 million during the quarter, compared to the consensus estimate of $0.70 million.

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 analyst expectations for a $0.39–$0.46 loss. Revenue reached $321.43 million, far exceeding the approximately $0.70 million consensus estimate, although investors should consider whether the revenue was influenced by acquisition-related or nonrecurring items. MeiraGTx Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Regulatory and clinical progress: The FDA granted Breakthrough Therapy Designation to AAV2-hAQP1, the company’s treatment for radiation-induced dry mouth. MeiraGTx also reported positive three-year Phase 1 AQUAx data, supporting continued development and a potential biologics license application filing in mid-2027. MeiraGTx Reports Second Quarter 2026 Results
• Positive Sentiment: Expanded commercial opportunity: MeiraGTx acquired global rights to botaretigene sparoparvovec, or bota-vec, from Johnson & Johnson for $25 million. The company expects to submit global regulatory filings for the X-linked retinitis pigmentosa treatment in 2026, potentially bringing a nearer-term product opportunity. MeiraGTx Corporate Update
• Positive Sentiment: Higher analyst target: Royal Bank of Canada raised its price target from $26 to $27 and maintained an “Outperform” rating, signaling increased confidence in MGTX’s pipeline and commercial prospects. Benzinga Analyst Update
• Neutral Sentiment: Additional funding: Oberland Capital committed up to $400 million, including as much as $375 million in nondilutive capital. MeiraGTx also completed a $100 million equity financing, improving liquidity but creating potential shareholder dilution. MeiraGTx Financing Announcement
• Neutral Sentiment: A comparison of MeiraGTx with Biomea Fusion offers sector context but does not provide a specific new catalyst for MGTX. Biomea Fusion and MeiraGTx Comparison

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Piper Sandler boosted their price objective on MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their target price on MeiraGTx from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of MeiraGTx in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

Insiders Place Their Bets

In related news, insider Stuart Naylor sold 27,659 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 640,846 shares of the company’s stock, valued at approximately $9,484,520.80. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on Tuesday, July 21st. The stock was sold at an average price of $12.51, for a total value of $700,560.00. Following the sale, the chief financial officer 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. 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 ninety days, insiders sold 145,659 shares of company stock valued at $1,678,453. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On MeiraGTx

Hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC boosted its stake in MeiraGTx by 0.4% in the second quarter. Perceptive Advisors LLC now owns 12,626,103 shares of the company’s stock valued at $82,231,000 after acquiring an additional 45,000 shares during the last quarter. Rubric Capital Management LP raised its holdings in shares of MeiraGTx by 13.4% in the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $60,620,000 after purchasing an additional 824,669 shares during the period. Johnson & Johnson purchased a new position in MeiraGTx in the second quarter valued at approximately $89,720,775,000. Adage Capital Partners GP L.L.C. grew its holdings in MeiraGTx by 7.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,034,578 shares of the company’s stock valued at $39,345,000 after purchasing an additional 400,000 shares during the period. Finally, BlackRock Inc. purchased a new stake in MeiraGTx in the second quarter worth $64,269,000. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Stock Up 8.4%

The firm has a market capitalization of $1.27 billion, a PE ratio of -9.26 and a beta of 1.23. The stock has a 50-day simple moving average of $12.00 and a 200-day simple moving average of $9.80.

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.