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.


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SoFi is the 'fastest growth story in consumer finance,' analyst says as stock pops

8:38 am ET October 12, 2021 (MarketWatch)

By Emily Bary

Sofi stock jumps as much as 14% after Morgan Stanley analyst sets $25 price target, cheers opportunities in student loans and banking

Shares of SoFi Technologies Inc. surged as much as 14% higher in Monday trading after Morgan Stanley analyst Betsy Graseck weighed in with an upbeat view of the stock.

Graseck initiated coverage of SoFi (SOFI) shares with an overweight rating and $25 price target, calling the company the "fastest growth story in consumer finance" with a "leg up" on rivals even as competition heats up among "neobanks" looking to woo younger customers.

SoFi has taken a unique approach to winning over millennial and Gen-Z customers, according to Graseck. While some rivals have begun with payment products and then tried to sell their customers on lending offerings after securing a relationship, SoFi has been building out its lending suite for more than a decade.

Lending is "arguably the most difficult and expensive consumer finance offering," Graseck wrote, so SoFi has advantages stemming from underwriting expertise, brand reputation, and customer service.

Graseck expects that SoFi will see student-loan volumes "sharply ramp" in the near term as the government's deferment program expires. Student lending "for now remains SoFi's largest revenue driver," but the federal moratorium has weighed on its stock, she argued.

"We believe the potential for positive guidance revisions on the back of this fast-approaching forbearance end date in 4 months provides an opportunity for investors to enter the stock now before it breaks out of the range of the past six months," Graseck continued.

Sofi shares have added 4% over the past six months as the S&P 500 has risen 6.4%.

She is also upbeat about SoFi's pending bank charter. The company announced in March that it planned to acquire a small community bank, which was expected to speed up its process of getting approved for a bank charter, and Graseck sees opportunities for the company once its formally gets its charter.

"This alone could boost total revenues by 10% in its first full year given benefits to [net interest margin," Graseck wrote, though she has only incorporated the approval into her bull-case model. Approval "would be incremental to both our base case as well as consensus," she continued.

-Emily Bary


(END) Dow Jones Newswires

October 12, 2021 08:38 ET (12:38 GMT)

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