Chardan Capital Reaffirms Buy Rating on MeiraGTx Holdings, Raises PT to $35

Chardan Capital Reaffirms Buy Rating on MeiraGTx Holdings, Raises PT to $35

Chardan Capital has reaffirmed its buy rating on MeiraGTx Holdings PLC (MGTX), while raising its price target to $35. This move comes after the company reported a second-quarter loss of $0.48 per share, beating the Zacks Consensus Estimate of $0.52 [1]. The quarterly loss was a significant improvement from the year-ago figure of $0.76 per share, adjusted for non-recurring items.

Revenue for the quarter ended June 2025 was $3.69 million, surpassing the Zacks Consensus Estimate by 59.78%, compared to year-ago revenues of $0.28 million [1]. This marks the second time in the last four quarters that MeiraGTx has topped consensus revenue estimates.

Chardan's decision to raise the price target reflects the firm's optimism about the company's future prospects. The analysts cited the company's strong revenue growth and the potential for improved profitability in the coming quarters. They also noted the company's ability to consistently beat revenue estimates, which they believe is a positive indicator for future performance.

The stock has added about 37% since the beginning of the year, outperforming the S&P 500's gain of 10% [1]. However, the sustainability of this price movement will depend on management's commentary on the earnings call and future earnings expectations.

Investors should also consider the industry outlook. The Medical - Biomedical and Genetics industry is currently in the bottom 41% of the 250 plus Zacks industries [1]. Despite this, MeiraGTx's strong performance within the industry suggests that it may be an attractive investment option.

In conclusion, Chardan Capital's reaffirmation of the buy rating and the raise in the price target indicate a positive outlook for MeiraGTx Holdings PLC. Investors should closely monitor the company's earnings call and future earnings expectations to gauge the potential impact on the stock's performance.

References:
[1] https://www.nasdaq.com/articles/meiragtx-holdings-plc-mgtx-reports-q2-loss-beats-revenue-estimates