Bank of America Securities Believes Meiragtx Holdings (MGTX) Won’t Stop Here

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Bank of America Securities analyst Alec Stranahan maintained a Buy rating on Meiragtx Holdings (MGTXResearch Report) on October 18 and set a price target of $26.00. The company’s shares closed last Wednesday at $20.99, close to its 52-week high of $21.65.

According to TipRanks.com, Stranahan is ranked #2168 out of 7704 analysts.

Meiragtx Holdings has an analyst consensus of Strong Buy, with a price target consensus of $37.00, which is a 94.6% upside from current levels. In a report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $55.00 price target.

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Based on Meiragtx Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.12 million and GAAP net loss of $20.09 million. In comparison, last year the company earned revenue of $2.47 million and had a GAAP net loss of $25.42 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. The company was founded on March 20, 2015 and is headquartered in New York, NY.

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