MeiraGTx (NASDAQ:MGTX) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded MeiraGTx to “Buy” from “Hold.” The stock has a “Moderate Buy” consensus rating, with an average analyst price target of $26.17 versus its reported $13.52 trading price.
• MeiraGTx reported a significant quarterly earnings beat, posting EPS of $1.71 versus the consensus estimate of a $0.46 loss and revenue of $321.43 million. Shares were reported up 6.7%, with the stock trading near its 52-week high.
• Insiders sold shares while institutional ownership remained high. Insiders sold roughly $1.68 million worth of stock over the past 90 days, while institutional investors owned 67.48% of the company.

MeiraGTx (NASDAQ:MGTX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on MGTX. Royal Bank Of Canada boosted 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. Piper Sandler increased their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of MeiraGTx in a research report on Friday, July 17th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of MeiraGTx in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MeiraGTx currently has a consensus rating of "Moderate Buy" and an average target price of $26.17.

MeiraGTx Trading Up 6.7%

Shares of NASDAQ:MGTX opened at $13.52 on Friday. The stock's fifty day simple moving average is $12.09 and its two-hundred day simple moving average is $9.82. MeiraGTx has a 1-year low of $6.62 and a 1-year high of $15.35. The stock has a market cap of $1.25 billion, a PE ratio of 19.04 and a beta of 1.23.

MeiraGTx (NASDAQ:MGTX - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $1.71 earnings per share (EPS) for the quarter, topping 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 had a net margin of 19.87% and a negative return on equity of 226.79%. On average, sell-side analysts forecast that MeiraGTx will post -1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Richard Giroux sold 56,000 shares of the firm's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total transaction of $700,560.00. Following the completion of the sale, the chief financial officer owned 908,530 shares in the company, valued at approximately $11,365,710.30. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $568,540.00. Following the completion of the sale, the chief executive officer directly owned 1,387,695 shares in the company, valued at approximately $12,725,163.15. This represents a 4.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 145,659 shares of company stock worth $1,678,453. Insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On MeiraGTx

A number of hedge funds have recently modified their holdings of MGTX. Johnson & Johnson bought a new position in MeiraGTx during the second quarter valued at $89,720,775,000. BlackRock Inc. bought a new stake in shares of MeiraGTx in the second quarter valued at $64,269,000. Rubric Capital Management LP raised its stake in shares of MeiraGTx by 65.7% in the fourth quarter. Rubric Capital Management LP now owns 6,175,331 shares of the company's stock valued at $49,094,000 after buying an additional 2,448,880 shares during the period. Millennium Management LLC grew its stake in shares of MeiraGTx by 23.5% during the 4th quarter. Millennium Management LLC now owns 3,176,390 shares of the company's stock worth $25,252,000 after acquiring an additional 604,121 shares during the period. Finally, Jupiter Topco LLC bought a new position in shares of MeiraGTx during the 2nd quarter worth $6,427,000. Institutional investors own 67.48% of the company's stock.

MeiraGTx News Summary

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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