Chardan Capital Markets Starts MeiraGTx Holdings plc (MGTX) at Buy

Chardan Capital Markets analyst Gbola Amusa initiates coverage on MeiraGTx Holdings plc (NASDAQ: MGTX) with a Buy rating and a price target of $30.00.

The analyst comments "We believe AAV-based gene therapy (GT) player, MeiraGTx, is one such company primed for significant long-term returns as its ocular, salivary, and neurodegenerative diseases franchises contribute to the broader arrival of GT. We believe investors should take notice of the speed of management execution, which will lead to 4 different phase I/II readouts for MeiraGTx in 4 different indications in 2019: i.e. XLRP (1H19), achromatopsia B3 (mid-2019), RPE65-deficiency (mid-2019), and radiation-induced xerostomia (2H19). Remarkably, MeiraGTx expects up to 4 new and different programs to enter the clinic in 2019: i.e. achromatopsia A3, Sjögren’s syndrome, ALS, and wet AMD. On our detailed modeling of the clinical products, we forecast $1.1 billion in riskadjusted 2028E sales for MeiraGTx, which drives our $30 PT, making MGTX a high-conviction pick in our AAV-based GT coverage."

For an analyst ratings summary and ratings history on MeiraGTx Holdings plc click here. For more ratings news on MeiraGTx Holdings plc click here.

Shares of MeiraGTx Holdings plc closed at $10.80 yesterday.

You May Also Be Interested In

• Raymond James Starts Polaryx Therapeutics (PLYX) at Strong Buy
• Lake Street Starts RF Industries Ltd. (RFIL) at Buy
• Kontoor Brands (KTB) PT Raised to $136 at UBS on Long-Term Opportunities