Zacks Research Upgrades MeiraGTx (NASDAQ:MGTX) to “Strong-Buy”

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 to clients and investors on Thursday,Zacks.com reports.

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

MeiraGTx Price Performance

Shares of NASDAQ:MGTX opened at $13.52 on Thursday. The firm has a market capitalization of $1.25 billion, a PE ratio of 19.04 and a beta of 1.23. The business has a 50 day simple moving average of $12.09 and a two-hundred day simple moving average of $9.82. MeiraGTx has a 1 year low of $6.62 and a 1 year 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 for the quarter, topping the consensus estimate of ($0.46) by $2.17. MeiraGTx had a negative return on equity of 226.79% and a net margin of 19.87%.The firm had revenue of $321.43 million for the quarter, compared to the consensus estimate of $0.70 million. Equities research analysts expect that MeiraGTx will post -1.69 EPS for the current fiscal year.

Insider Buying and Selling at MeiraGTx

In other MeiraGTx news, insider Stuart Naylor sold 27,659 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $14.80, for a total value of $409,353.20. Following the completion of the sale, the insider directly owned 640,846 shares in the company, valued at approximately $9,484,520.80. This represents a 4.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction on 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 sale, the chief executive officer owned 1,387,695 shares of the company’s stock, valued at $12,725,163.15. This represents a 4.28% 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 valued at $1,678,453 in the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of MeiraGTx by 390.9% during 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 position in shares of MeiraGTx during the fourth quarter valued at approximately $94,000. Abel Hall LLC purchased a new position in MeiraGTx during the fourth quarter valued at approximately $98,000. Finally, Bank of Nova Scotia purchased a new position in MeiraGTx during the first quarter valued at approximately $105,000. Hedge funds and other institutional investors own 67.48% of the company’s stock.

More MeiraGTx News

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.

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.