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

Key Points

• MeiraGTx shares rose 8.4% after the company reported quarterly EPS of $1.71, well above analysts’ expected loss of $0.39–$0.46, while revenue of $321.43 million greatly exceeded the roughly $0.70 million consensus estimate.
• The company reported important pipeline progress, including FDA Breakthrough Therapy Designation for AAV2-hAQP1 and positive three-year Phase 1 data; it also acquired global rights to bota-vec and expects regulatory filings in 2026.
• MeiraGTx strengthened its funding position through up to $400 million in committed capital and a $100 million equity financing, though the latter may dilute shareholders. Analysts’ average rating remains “Moderate Buy,” with an average price target of $26.17.

MeiraGTx Holdings PLC (NASDAQ:MGTX - Get Free Report) shot up 8.4% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $13.75 and last traded at $13.7350. Approximately 405,542 shares were traded during trading, a decline of 43% from the average session 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, beating the consensus estimate of ($0.46) by $2.17. The firm had revenue of $321.43 million during the quarter, compared to analyst estimates of $0.70 million.

MeiraGTx News Summary

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of MeiraGTx from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and set 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. Finally, Piper Sandler raised their price objective on MeiraGTx from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.17.

Insider Buying and Selling

In other MeiraGTx news, insider Stuart Naylor sold 27,659 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $14.80, for a total transaction of $409,353.20. Following the sale, the insider owned 640,846 shares of the company's stock, valued at approximately $9,484,520.80. This 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 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 directly owned 1,387,695 shares of the company's stock, valued at approximately $12,725,163.15. This trade represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 145,659 shares of company stock valued at $1,678,453 over the last quarter. Insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On MeiraGTx

A number of hedge funds have recently added to or reduced their stakes in MGTX. BNP Paribas Financial Markets increased its stake 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 acquiring an additional 1,466 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in MeiraGTx by 390.9% in the second quarter. Tower Research Capital LLC TRC now owns 8,797 shares of the company's stock worth $57,000 after purchasing an additional 7,005 shares during the period. Algert Global LLC increased its stake in MeiraGTx by 13.9% in the second quarter. Algert Global LLC now owns 11,700 shares of the company's stock valued at $158,000 after purchasing an additional 1,430 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of MeiraGTx in the 4th quarter valued at about $94,000. Finally, Bank of Nova Scotia bought a new stake in MeiraGTx in the 1st quarter valued at about $105,000. 67.48% of the stock is currently owned by institutional investors.

MeiraGTx Stock Performance

The business has a 50 day moving average of $12.00 and a two-hundred day moving average of $9.80. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.26 and a beta of 1.23.

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.

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