MeiraGTx Holdings Soars 14.14% on Promising Treatment Data

On May 7, 2025, MeiraGTx Holdings surged 14.14% in pre-market trading, marking a significant rise in investor interest and confidence in the company's prospects.

Analyst Alec Stranahan from Bank of America Securities reiterated a Buy rating on MeiraGTx Holdings, maintaining a price target of $14.00. Stranahan's optimism is driven by the promising data from MeiraGTx Holdings' bota-vec treatment for X-linked retinitis pigmentosa (XLRP). Despite missing the primary endpoint in the phase 3 study, the treatment demonstrated compelling results on key secondary endpoints, such as functional vision and retinal function, which are crucial for potential approval. The historical precedent of Luxturna's approval supports the possibility of bota-vec gaining approval based on these secondary measures.

Additionally, the potential financial milestones associated with the bota-vec program, totaling $285 million, provide a strong incentive for continued investment. The positive regulatory sentiment, particularly the FDA's openness to new approval pathways for rare diseases, further boosts optimism surrounding MeiraGTx Holdings' prospects. These factors collectively support Stranahan's confidence in the stock's potential, justifying the Buy rating and the price objective of $14.00.