MeiraGTx Holdings plc Ordinary Shares (MGTX)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach clinical-stage biotech with Graham's skepticism. MeiraGTx is a genetic-medicines company with 393 employees, developing treatments for ocular, neurodegenerative and xerostomia conditions. The filed numbers are wildly uneven. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $321.4 million and net income $160.7 million, a 50% margin. But the prior filed quarter, fiscal Q1 2026, had revenue of only $293,000 and a net loss of $46.3 million. Fiscal Q3 2025 had revenue of $410,000 and a net loss of $50.5 million. For full-year fiscal 2025, revenue was $81.4 million and net loss $114.2 million; fiscal 2024 net loss was $147.8 million and fiscal 2023 net loss was $84.0 million. That is why the computed Lynch category is none: losses in each of the last four years. FairStock calculates trailing free cash flow of -$14.2 million and FCF yield of -1.5%, so the business still consumes cash. The price at the 2026-10-13 close of $9.94 gives a market cap of $954.7 million. FairStock's P/E is 11.43 and PEG 0.08, which look cheap only if the huge Q2 profit is durable. The FairStock Graham Number is $6.70, meaning the price is about 48% above that conservative value. FairStock ROE of 72.17% and ROCE of 38.65% are likely flattered by the one-quarter spike. I see no durable moat proven by these filings, only promising science and highly uncertain economics. I view it as speculative until cash flow and revenue repeat.

In plain English: MeiraGTx is a small healthcare company that tests experimental genetic medicines for eye, brain and saliva-gland diseases. It has mostly lost money in recent years, though one quarter filed for the period ended June 30, 2026 showed a large profit. At the recent price of $9.94, the shares look expensive compared with the company's conservative asset value and uncertain repeat earnings.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer