Mirum Pharmaceuticals (NASDAQ:MIRM) Issues Earnings Results, Misses Estimates By $0.32 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) posted its earnings results on Wednesday. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32), FiscalAI reports. The business had revenue of $176.24 million during the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 26.88%. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The firm’s revenue was up 37.9% compared to the same quarter last year.

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

• Strong commercial performance: Second-quarter net product sales rose to $176 million, up from $128 million a year earlier, driven by LIVMARLI and the bile acid medicines. Mirum raised its 2026 sales guidance to $680 million-$700 million.
• Mirum is preparing for a potential fourth-quarter U.S. launch of zilurgisertib for FOP following a favorable late-cycle FDA meeting and a September PDUFA date; launch revenue is not included in current guidance and is expected to contribute primarily in 2027.
• The FDA recommended an additional Phase III study for volixibat in PSC, delaying the planned NDA filing to the first half of 2027. Mirum disagrees that another trial is needed and plans further discussions, supported by the drug’s breakthrough therapy designation.
• The VANTAGE Phase III study of volixibat in PBC has completed enrollment with more than 330 patients, and FDA feedback indicates it may serve as a pivotal study if the first-quarter 2027 results are successful.
• Mirum ended June with $561 million in cash, cash equivalents, and investments after issuing $690 million of 0% convertible notes and restructuring existing debt. Management said the strengthened balance sheet provides flexibility to fund launches, clinical development, and potential business development.

Mirum Pharmaceuticals Price Performance

Mirum Pharmaceuticals stock traded up $4.97 during midday trading on Friday, hitting $99.08. The company’s stock had a trading volume of 139,856 shares, compared to its average volume of 894,926. Mirum Pharmaceuticals has a 12 month low of $57.79 and a 12 month high of $130.00. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $6.04 billion, a PE ratio of -6.81 and a beta of 0.52. The stock’s 50-day moving average price is $110.35 and its 200-day moving average price is $101.79.

Mirum Pharmaceuticals News Roundup

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

• Positive Sentiment: Revenue growth and raised outlook support the stock. Second-quarter revenue rose 37.9% year over year to $176.24 million, exceeding the $166.33 million consensus estimate, as Livmarli and other bile-acid medicines drove growth. Mirum raised its 2026 revenue guidance to $680 million-$700 million, above analyst expectations of $675.1 million. Mirum Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update
• Positive Sentiment: Analysts remain bullish despite target reductions. TD Cowen, Citizens JMP and HC Wainwright lowered their price targets to $140, $137 and $140, respectively, but maintained Buy or Market Outperform ratings. These targets still imply substantial upside from recent trading levels. Analyst Price Target Updates
• Neutral Sentiment: The earnings picture was mixed. Mirum reported a quarterly loss of $1.06 per share, wider than the $0.74 consensus estimate, although other reports placed the adjusted loss near $0.80 per share versus an expected $0.77 loss. The miss reflects continued investment and operating losses despite improving sales. Mirum’s Q2 Earnings Lag Estimates, Revenues Beat, 2026 View Raised
• Negative Sentiment: An unexpected FDA request is the main overhang. Citizens said the FDA’s request for another Phase 3 trial clouds Mirum’s near-term outlook, raising concerns about development timelines, costs and potential delays for the affected program. The news triggered a sharp selloff before the stock recovered part of the decline. Citizens Says FDA Request Clouds Mirum’s Near-Term Outlook
• Negative Sentiment: Insider selling adds a modest sentiment risk. Senior Vice President Jolanda Howe sold 1,840 shares worth approximately $193,734, reducing her holdings by about 59%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which lessens its signaling value. Mirum Pharmaceuticals Insider Sale

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore reissued an “outperform” rating and set a $138.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Citigroup reiterated an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday. Royal Bank Of Canada lowered their target price on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Citizens Jmp reduced their price target on shares of Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Insider Activity

In other news, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the transaction, the chief executive officer owned 194,309 shares of the company’s stock, valued at $18,622,574.56. The trade was a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $122.25, for a total transaction of $611,250.00. Following the sale, the chief financial officer owned 42,181 shares of the company’s stock, valued at $5,156,627.25. The trade was a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 67,155 shares of company stock worth $7,185,662. Corporate insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MIRM. Mackenzie Financial Corp increased its stake in Mirum Pharmaceuticals by 425.2% in the 4th quarter. Mackenzie Financial Corp now owns 19,889 shares of the company’s stock worth $1,565,000 after purchasing an additional 16,102 shares in the last quarter. XTX Topco Ltd purchased a new stake in Mirum Pharmaceuticals during the fourth quarter valued at about $3,179,000. Zacks Investment Management acquired a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth about $2,401,000. Vestal Point Capital LP purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth approximately $5,213,000. Finally, Virtus Investment Advisers LLC raised its holdings in shares of Mirum Pharmaceuticals by 16.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 10,513 shares of the company’s stock valued at $830,000 after acquiring an additional 1,447 shares during the period.

Mirum Pharmaceuticals Company Profile

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.