Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Earnings Results

Mirum Pharmaceuticals (NASDAQ:MIRM) issued its quarterly earnings data on Tuesday. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.38), Zacks reports. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The company had revenue of $185.72 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue was up 39.6% compared to the same quarter last year.

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

• Third-quarter net product sales rose to $186 million, up from $133 million a year earlier, driven primarily by LIVMARLI and supported by the bile acid medicines. Mirum raised full-year 2026 revenue guidance to $715 million–$720 million.
• LIVMARLI sales reached $133 million, including $100 million in the U.S., with adult PFIC growth the largest contributor to the guidance increase. Management expects the recent $10 million–$15 million quarterly growth cadence to continue through 2027.
• ATEBRIOZ was approved for FOP in September and launched in the U.S. in October, with early engagement from patients, caregivers, and physicians described as strong. Mirum also reported positive pediatric data that could support a label expansion for children ages 6 to under 12.
• The company highlighted multiple upcoming catalysts, including the AZURE-4 hepatitis delta readout this quarter and VANTAGE PBC results in the first quarter of 2027, alongside as many as five potential regulatory submissions or label expansions. Management said the commercial business and pipeline position Mirum to become cash-flow positive in 2027.
• R&D spending remains elevated at roughly 50% of revenue and is expected to stay at that level for about two more quarters, reflecting broad late-stage development and manufacturing investment. In addition, Takeda-related LIVMARLI revenue was minimal in the quarter, with no new orders expected in Q4, while PSC regulatory discussions remain ongoing without a material update beyond the planned first-half 2027 filing.

Mirum Pharmaceuticals Trading Up 0.9%

Mirum Pharmaceuticals stock traded up $0.78 during midday trading on Wednesday, hitting $87.81. 164,107 shares of the stock were exchanged, compared to its average volume of 833,909. The company has a fifty day simple moving average of $89.53 and a two-hundred day simple moving average of $98.42. Mirum Pharmaceuticals has a 52 week low of $63.23 and a 52 week high of $130.00. The stock has a market capitalization of $5.70 billion, a PE ratio of -6.06 and a beta of 0.75. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals News Roundup

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

• Positive Sentiment: Three firms raised their price targets: HC Wainwright to $202 with a Buy rating, Citizens JMP to $167 with a Market Outperform rating, and Cantor Fitzgerald to $160 with an Overweight rating. The upgrades signal continued optimism about MIRM’s outlook. HC Wainwright rating Citizens JMP rating Cantor Fitzgerald rating
• Positive Sentiment: Third-quarter revenue was $185.7 million, ahead of analyst estimates of about $178.1 million and up 39.6% year over year, pointing to strong sales growth. Third-quarter results
• Neutral Sentiment: Mirum said it showcased new data across its rare liver disease portfolio at AASLD’s Liver Meeting; the supplied report does not specify the data or its potential commercial impact. AASLD portfolio update
• Negative Sentiment: The company reported a third-quarter loss of $0.87 per share, wider than analysts’ expected loss of roughly $0.49–$0.53 and a reversal from earnings of $0.05 per share a year earlier. The earnings miss could temper the positive revenue and analyst-target news. Earnings flash

Insider Activity at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the sale, the chief financial officer owned 36,355 shares of the company’s stock, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the completion of the sale, the chief executive officer owned 194,440 shares in the company, valued at approximately $19,187,339.20. This trade represents a 13.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 96,659 shares of company stock worth $9,604,100. 8.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings cut shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, October 22nd. UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, August 27th. Evercore reiterated an “outperform” rating and set a $146.00 target price on shares of Mirum Pharmaceuticals in a research report on Tuesday, October 13th. Citizens Jmp increased their price target on Mirum Pharmaceuticals from $144.00 to $167.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $189.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.56.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.