Piper Sandler Lowers MeiraGTx (NASDAQ:MGTX) Price Target to $26.00

MeiraGTx (NASDAQ:MGTX) had its price objective lowered by equities research analysts at Piper Sandler from $30.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 244.78% from the company’s previous close.

A number of other analysts also recently issued reports on MGTX. Bank of America lifted their target price on MeiraGTx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research note on Thursday, January 22nd. Zacks Research raised MeiraGTx from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Chardan Capital reiterated a “buy” rating and set a $35.00 price objective on shares of MeiraGTx in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MeiraGTx has an average rating of “Moderate Buy” and an average price target of $23.67.

MeiraGTx Stock Up 0.1%

Shares of MGTX stock traded up $0.01 during trading on Friday, reaching $7.54. The company’s stock had a trading volume of 289,121 shares, compared to its average volume of 405,116. MeiraGTx has a one year low of $4.55 and a one year high of $9.73. The business has a fifty day moving average price of $7.57 and a 200-day moving average price of $7.94. The company has a market cap of $606.98 million, a price-to-earnings ratio of -3.59 and a beta of 1.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 26.29.

MeiraGTx (NASDAQ:MGTX) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.79. MeiraGTx had a negative net margin of 615.27% and a negative return on equity of 1,065.47%. The firm had revenue of $75.36 million for the quarter, compared to analyst estimates of $3.87 million. Analysts anticipate that MeiraGTx will post -1.48 earnings per share for the current year.

Insider Activity

In other news, CEO Alexandria Forbes sold 62,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $7.41, for a total transaction of $459,420.00. Following the completion of the transaction, the chief executive officer directly owned 1,449,695 shares in the company, valued at approximately $10,742,239.95. The trade was a 4.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.50% of the stock is currently owned by insiders.

Institutional Trading of MeiraGTx

A number of hedge funds have recently modified their holdings of MGTX. Kennedy Capital Management LLC grew its stake in MeiraGTx by 3.8% in the second quarter. Kennedy Capital Management LLC now owns 35,189 shares of the company’s stock valued at $229,000 after acquiring an additional 1,287 shares during the period. BNP Paribas Financial Markets raised its position in shares of MeiraGTx by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 4,810 shares of the company’s stock worth $31,000 after purchasing an additional 1,466 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of MeiraGTx by 4.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 82,844 shares of the company’s stock worth $682,000 after purchasing an additional 3,452 shares in the last quarter. XTX Topco Ltd grew its position in MeiraGTx by 11.0% in the 4th quarter. XTX Topco Ltd now owns 38,030 shares of the company’s stock valued at $302,000 after purchasing an additional 3,766 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in MeiraGTx during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 67.48% of the company’s stock.

More MeiraGTx News

Here are the key news stories impacting MeiraGTx this week:

• Positive Sentiment: FDA granted Breakthrough Therapy Designation to AAV2-hAQP1 for Grade 2/3 radiation?induced xerostomia — a major regulatory endorsement that can accelerate development and commercial potential for a lead program. This is a high-impact clinical catalyst for a gene?therapy developer. GlobeNewswire Release
• Positive Sentiment: Quarterly results materially beat expectations: EPS $0.19 vs. consensus -$0.60 and revenue $75.36M vs. $3.87M expected — an outsized revenue surprise that likely reflects non?recurring items or milestone/licensing effects in the release. Strong beats typically lift sentiment for clinical?stage biotech stocks. Earnings Press Release
• Positive Sentiment: Analyst support picked up: Bank of America raised its price target to $16 with a Buy rating, and Chardan reaffirmed Buy with a $35 target — both call attention to significant upside vs. current levels and can attract investor interest. Benzinga
• Positive Sentiment: Institutional accumulation noted in filings and prior quarter ownership increases (several hedge funds and asset managers added shares), which can support the stock on positive news. MarketBeat Institutional Note
• Negative Sentiment: CEO Alexandria Forbes sold 62,000 shares (approx. $459k at ~$7.41) — an insider sale that some investors view as a cautious signal and which can create short?term downward pressure. Filing is public. SEC Form 4

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.