MeiraGTx's Sanofi deal shows 'significant underappreciated value' in portfolio and capabilities - Piper Sandler
Piper Sandler maintained an Overweight rating and $25 price target on MeiraGTx Holdings plc in a note Monday after news thatAnalysts noted that the deal also affords Sanofi with a right of first negotiation across several riboswitch programs as well as the xerostomia program.
"Notably, this is just a right of first negotiation , and - as noted in the press release - it appears deal news from this company is about to accelerate, given significant strategic interest," the analysts wrote. There is"no change to our model on this development, but we do think it illustrates the significant underappreciated value inherent in this company's portfolio and capabilities," they added.
MGTX remains Piper Sandler's small-cap top pick, and they"continue to like the setup on this name," recommending shares to levels approaching $32.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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