Chardan Capital Keeps Their Buy Rating on Meiragtx Holdings Plc (MGTX)

By Austin Angelo

In a report released today, Gbola Amusa from Chardan Capital maintained a Buy rating on Meiragtx Holdings Plc (MGTXResearch Report), with a price target of $45. The company’s shares closed last Monday at $18.29.

Amusa commented:

“We rate MeiraGTx Buy on the forward- looking approach Meira management has taken to develop one of the broadest pipelines in all of AAV-based GT, including one with both lower-risk IRD opportunities for early wins and with higher-risk large-market opportunities that could generate profound investment returns.”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 18.9% and a 51.0% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Adverum Biotechnologies.

Meiragtx Holdings Plc has an analyst consensus of Strong Buy, with a price target consensus of $39.

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Based on Meiragtx Holdings Plc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $20.82 million. In comparison, last year the company had a GAAP net loss of $30.46 million.

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MeiraGTx Holdings Plc is a clinical-stage biotech company, which engages in the development of novel gene therapy treatments. It operates through the United States and United Kingdom geographical segments. Its pipeline includes AAV-CNGB3, AAV-CNGA3, AAV-RPE65, AAV-RPGR, AAV-AQP1, and AAV-UPF1.