MeiraGTx Holdings PLC
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Health Care : Biotechnology | Small Cap Growth
Company profile

MeiraGTx Holdings plc is a clinical-stage gene therapy company. The Company develops gene therapy treatments for a range of inherited and acquired disorders. It is focused on developing therapies for ocular diseases, including rare inherited blindness, as well as Xerostomia, radiation treatment for head and neck cancers and neurodegenerative diseases, such as amyothrophic lateral sclerosis (ALS). It is also developing transformative technology to enable the use of small molecules to turn gene therapy product candidates on and off. It is focused on three areas of unmet medical needs, including inherited retinal diseases, severe forms of xerostomia and neurodegenerative diseases. Its product candidates include AAV-CNGB3, AAV-CNGA3, AAV-RPGR, AAV-RPE65, AAV-AQP1 and AAV-UPF1.

Postmarket

Last Trade
Delayed
$20.96
-0.02 (-0.10%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$20.98
Day's Change
-0.01 (-0.05%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
22.22
Day's Low
20.35
Volume
(Light)
Volume:
761,398

10-day average volume:
1,102,455
761,398

As SoFi stock surges, one analyst sees at least 50% more upside

8:19 am ET September 23, 2021 (MarketWatch)
Print

By Emily Bary

Jefferies initiates coverage of SoFi shares with a bullish rating

SoFi Technologies Inc.'s strong product portfolio could help lift its shares roughly 50% higher, according to one analyst's model--and that's on top of a 10% rally Wednesday.

Shares of SoFi (SOFI) surged Wednesday after Jefferies analyst John Hecht chimed in with an upbeat view of the digital-finance stock, setting a buy rating and $25 target price. That price target might end up being conservative, Hecht said, since his model accounts for each of SoFi's products individually and doesn't factor in the powerful "flywheel" effect he thinks the company can leverage through its ample opportunity to cross-sell products.

"Rather than directly pursuing member growth with large dollar loans, SoFi eases consumers into the ecosystem by giving them free access to high-frequency products and lower costs," Hecht wrote. "Following that, SoFi's simple [user interface/user experience] draws customers toward ancillary products."

The ability to sell existing customers on new products bodes well for SoFi's margins, according to Hecht, who predicts that SoFi will reach profitability on a GAAP basis within the next three years. He expects that the company will be able to lower costs through the benefits of scale, allowing it to pass on savings to customers in order to generate more engagement with the platform.

"This cycle self-reinforces and drives more growth," he wrote.

Hecht is also optimistic about the company's banking ambitions after earlier this year it announced plans to acquire a small community bank to help speed up its process of getting a banking charter.

"This enhances the value proposition for SoFi members while driving down costs compared to the current process of financing loan offerings in a nonbank," he wrote. "Ultimately, this would allow it to conduct normal banking operations without the legacy bricks-and-mortar infrastructure, in turn creating a cheaper base to make loans to its customers."

Shares of SoFi have fallen 20.8% over the past three months as the S&P 500 has risen 3.5%.

-Emily Bary

	

(END) Dow Jones Newswires

September 23, 2021 08:19 ET (12:19 GMT)

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