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

MeiraGTx (NASDAQ:MGTX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on MGTX. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of MeiraGTx in a report on Wednesday, July 8th. Weiss Ratings restated a “sell (d-)” rating on shares of MeiraGTx in a research note on Friday, July 17th. Wall Street Zen raised shares of MeiraGTx from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada increased 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. Finally, Piper Sandler raised their price objective on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.17.

MeiraGTx Trading Up 6.7%

Shares of MGTX opened at $13.52 on Thursday. The firm has a market cap of $1.25 billion, a PE ratio of 19.04 and a beta of 1.23. The firm has a fifty 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 released its quarterly earnings results on Thursday, August 13th. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of ($0.46) by $2.17. The firm had revenue of $321.43 million for the quarter, compared to analysts’ expectations of $0.70 million. MeiraGTx had a negative return on equity of 226.79% and a net margin of 19.87%. As a group, research analysts forecast that MeiraGTx will post -1.69 EPS for the current fiscal year.

Insider Activity

In other MeiraGTx news, CFO Richard Giroux sold 56,000 shares of MeiraGTx stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total transaction of $700,560.00. Following the transaction, the chief financial officer owned 908,530 shares of the company’s stock, valued at $11,365,710.30. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 that occurred on 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 transaction, the chief executive officer owned 1,387,695 shares of the company’s stock, valued at approximately $12,725,163.15. The trade was 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 have 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

Several hedge funds have recently bought and sold shares of MGTX. Perceptive Advisors LLC increased its stake in MeiraGTx by 0.4% in the 2nd quarter. Perceptive Advisors LLC now owns 12,626,103 shares of the company’s stock worth $82,231,000 after buying an additional 45,000 shares in the last quarter. Rubric Capital Management LP raised its position in shares of MeiraGTx by 13.4% during the first quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock valued at $60,620,000 after buying an additional 824,669 shares during the last quarter. Johnson & Johnson bought a new position in shares of MeiraGTx during the 2nd quarter valued at about $89,720,775,000. Adage Capital Partners GP L.L.C. increased its position 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 acquiring an additional 400,000 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in MeiraGTx during the 2nd quarter valued at $64,269,000. Institutional investors own 67.48% of the company’s stock.

Key Headlines Impacting MeiraGTx

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.