Nasdaq Down 150 Points; Johnson & Johnson Reports Better-Than-Expected Q3 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 15 2024
0mins
Source: Benzinga
U.S. Stock Market Performance: U.S. stocks declined, with the Nasdaq Composite dropping around 150 points; the Dow fell by 0.30%, the NASDAQ by 0.84%, and the S&P 500 by 0.43%. Real estate shares rose by 2% while energy shares decreased by 2.3%.
Company Earnings Highlights: Johnson & Johnson reported strong third-quarter results, beating earnings expectations, while Wolfspeed, MeiraGTx Holdings, and Ericsson saw significant stock increases due to positive announcements. Conversely, Seelos Therapeutics faced a 43% drop after announcing delisting from Nasdaq.
Analyst Views on MGTX
Wall Street analysts forecast MGTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MGTX is 23.00 USD with a low forecast of 15.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 7.690
Low
15.00
Averages
23.00
High
30.00
Current: 7.690
Low
15.00
Averages
23.00
High
30.00
About MGTX
MeiraGTx Holdings PLC is a vertically integrated, clinical-stage genetic medicines company. It has a pipeline of late-stage clinical programs, including Parkinson’s disease, radiation-induced xerostomia and AIPL1-associated retinal dystrophy. It is focused on vivo delivery of vectorized biologic therapeutics addressing unmet needs in prevalent disorders, including severe forms of xerostomia, neurodegenerative diseases and ocular diseases, including inherited retinal diseases (IRDs), and large degenerative ocular diseases. The Company’s product pipeline includes Botaretigene Sparoparvovec for the treatment of X-linked Retinitis Pigmentosa; AAV-hAQP1 for the treatment of Radiation-Induced Grade 2/3 Xerostomia; AAV-hAQP1 for the treatment of Sjogren’s Syndrome; AAV-GAD for the treatment of Parkinson’s Disease; AAV-RPE65 for the treatment of RPE65-Associated Retinal Dystrophy; AAV-CNGB3 and AAV-CNGA3 for the treatment of Achromatopsia; AAV-AIPL1 for the treatment of LCA4, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
