MeiraGTx (NASDAQ:MGTX) Given New $27.00 Price Target at Royal Bank Of Canada

MeiraGTx (NASDAQ:MGTX) had its price objective lifted by Royal Bank Of Canada from $26.00 to $27.00 in a research report report published on Friday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

MGTX has been the subject of several other reports. Piper Sandler raised their price target on shares of MeiraGTx from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of MeiraGTx in a research report on Friday, July 17th. Finally, 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. 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 given a Sell rating to the company. According to 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 MeiraGTx stock opened at $13.52 on Friday. MeiraGTx has a 1 year low of $6.62 and a 1 year high of $15.35. The company has a market cap of $1.25 billion, a P/E ratio of 19.04 and a beta of 1.23. The stock has a 50-day moving average price of $12.09 and a 200 day moving average price of $9.82.

MeiraGTx (NASDAQ:MGTX) last released its 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 company 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%. On average, equities analysts forecast that MeiraGTx will post -1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MeiraGTx news, 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 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 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, CFO Richard Giroux sold 56,000 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $12.51, for a total value of $700,560.00. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 145,659 shares of company stock worth $1,678,453. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC bought a new stake in MeiraGTx during the second quarter valued at about $6,427,000. Hsbc Holdings PLC bought a new position in shares of MeiraGTx in the second quarter worth about $379,000. Legal & General Group Plc acquired a new position in shares of MeiraGTx during the 2nd quarter worth about $443,000. The Manufacturers Life Insurance Company acquired a new position in shares of MeiraGTx during the 2nd quarter worth about $230,000. Finally, Algert Global LLC boosted its stake in MeiraGTx by 13.9% during the 2nd 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 during the period. Institutional investors and hedge funds own 67.48% of the company’s stock.

Trending Headlines about 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.