Piper Sandler lowered the firm’s price target on MeiraGTx (MGTX) to $26 from $30 and keeps an Overweight rating on the shares following a FY25 update. The firm continues to like the setup for MeiraGTx as its pipeline progresses, highlighted by the news that AAV2-hAQP1 received FDA Breakthrough Therapy Designation in xerostomia. Piper looks forward to the company’s April 16th call on a AAV2-hAQP1 program update including longer-term data and the commercial opportunity, noting a potential BLA filing is expected in the first half of 2027 with a targeted U.S. launch in early 2028.
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