Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) announced its quarterly earnings data on Wednesday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13), Zacks reports. Mirum Pharmaceuticals had a negative net margin of 8.78% and a negative return on equity of 16.47%. The company had revenue of $148.93 million for the quarter, compared to analysts’ expectations of $141.78 million. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis.

Here are the key takeaways from Mirum Pharmaceuticals’ conference call:

• Mirum delivered $521 million in 2025 net product sales, beating guidance (LIVMARLI and bile acid medicines were the main drivers) and set 2026 net product sales guidance of $630–$650 million.
• Four potentially registrational readouts are expected over the next 18 months, including volixibat VISTA top-line data in Q2 2026, brelovitug AZURE interim and pivotal readouts (Q2 and H2 2026), EXPAND top-line in Q4 2026 and VANTAGE in H1 2027.
• Mirum expects a meaningful increase in R&D spend in 2026 (roughly a $150 million rise tied to brelovitug, about half for CMC) to support ongoing phase 3 enrollment and preparation for an anticipated BLA submission next year.
• The company finished 2025 with $391 million in cash and raised an additional ~$268.5 million in private placements to fund the Bluejay acquisition, reporting positive cash flow from operations in 2025 and expecting to return to positive cash flow in 2027.

Mirum Pharmaceuticals Stock Performance

Mirum Pharmaceuticals stock traded down $15.58 during mid-day trading on Thursday, reaching $93.04. The company had a trading volume of 1,651,569 shares, compared to its average volume of 780,342. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -107.98 and a beta of 0.49. The company has a 50 day moving average of $92.67 and a 200-day moving average of $78.81. Mirum Pharmaceuticals has a 52 week low of $36.88 and a 52 week high of $109.28.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MIRM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research note on Friday, December 19th. Morgan Stanley raised their price objective on Mirum Pharmaceuticals from $95.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. HC Wainwright boosted their target price on Mirum Pharmaceuticals from $102.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Wall Street Zen raised Mirum Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.92.

Mirum Pharmaceuticals News Summary

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Q4 revenue beat and strong product growth — Mirum reported Q4 revenue of $148.9M, up ~50% year‑over‑year driven by Livmarli and other bile‑acid product sales, topping estimates and showing clear commercial momentum. Mirum’s Q4 Earnings Lag, Higher Product Sales Drive Y/Y Revenues
• Positive Sentiment: Analyst support remains — several firms raised price targets and kept buy/outperform ratings (Stifel raised PT to $125; TD Cowen to $117; RBC and Citizens still at outperform/market outperform with elevated PTs), signaling continued analyst conviction in Mirum’s growth story. Benzinga analyst coverage roundup RBC / Street Insider
• Neutral Sentiment: FY‑2026 revenue guidance set to $630M–$650M — the range overlaps Street estimates (~$646M) but the midpoint is slightly under consensus, leaving room for mixed investor interpretation depending on execution confidence. Business Wire press release
• Neutral Sentiment: Full earnings materials and call transcripts available — analysts and investors are combing the call/transcript for details on margins, patient uptake, and expense outlook (see Seeking Alpha and The Motley Fool transcripts). Seeking Alpha transcript Fool transcript
• Negative Sentiment: EPS missed expectations — Mirum reported a loss of $0.11/sh versus the consensus $0.02, and the company remains unprofitable with negative net margin and ROE; that EPS miss appears to have been the primary catalyst for the share decline despite the revenue beat. MarketBeat earnings recap
• Negative Sentiment: Short‑term sell pressure and higher volume — trading picked up and shares fell on the mixed release (strong sales but EPS miss/guidance ambiguity), creating a near‑term technical pullback that some analysts call a buying opportunity while others warn to watch margins and guidance execution. Seeking Alpha technical note

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 1,421 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $93.33, for a total value of $132,621.93. Following the completion of the sale, the chief financial officer owned 42,127 shares in the company, valued at approximately $3,931,712.91. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joanne Quan sold 6,911 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $90.27, for a total value of $623,855.97. Following the completion of the sale, the insider owned 11,305 shares of the company’s stock, valued at $1,020,502.35. This represents a 37.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,136 shares of company stock valued at $4,352,029 in the last three months. Company insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

A number of large investors have recently bought and sold shares of MIRM. Janney Montgomery Scott LLC lifted its holdings in shares of Mirum Pharmaceuticals by 6.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock valued at $253,000 after acquiring an additional 200 shares during the period. Comerica Bank lifted its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the last quarter. Osaic Holdings Inc. boosted its position in Mirum Pharmaceuticals by 46.5% in the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock valued at $56,000 after buying an additional 351 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company grew its stake in Mirum Pharmaceuticals by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 22,793 shares of the company’s stock worth $1,160,000 after buying an additional 440 shares during the last quarter.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company’s primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum’s lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.