Mirum Pharmaceuticals (NASDAQ:MIRM) Announces Earnings Results, Misses Expectations By $0.32 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. Mirum Pharmaceuticals’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS.

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 Trading Up 1.4%

Shares of NASDAQ:MIRM traded up $1.46 during trading hours on Wednesday, hitting $105.79. 856,163 shares of the company’s stock traded hands, compared to its average volume of 595,946. The firm has a market capitalization of $6.45 billion, a P/E ratio of -7.77 and a beta of 0.52. The business has a fifty day moving average price of $110.46 and a 200-day moving average price of $101.77. Mirum Pharmaceuticals has a 1 year low of $50.25 and a 1 year high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.09 and a quick ratio of 1.99.

Insider Transactions at Mirum Pharmaceuticals

In related news, 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 completion of the sale, the chief financial officer directly owned 42,181 shares of the company’s stock, valued at approximately $5,156,627.25. This trade represents a 10.60% decrease in their position. The sale was disclosed in a legal filing 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 20,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $122.27, for a total value of $2,445,400.00. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $23,758,161.43. The trade was a 9.33% decrease in their position. 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 three months, insiders have sold 67,155 shares of company stock worth $7,185,662. 8.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its holdings in Mirum Pharmaceuticals by 21.4% during the 4th quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock worth $479,050,000 after purchasing an additional 1,067,722 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Mirum Pharmaceuticals by 56.6% in the 4th quarter. Wellington Management Group LLP now owns 1,237,830 shares of the company’s stock worth $97,776,000 after buying an additional 447,141 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Mirum Pharmaceuticals by 60.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 724,317 shares of the company’s stock worth $57,214,000 after buying an additional 273,479 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Mirum Pharmaceuticals during the 4th quarter worth $14,615,000. Finally, Swiss National Bank increased its stake in shares of Mirum Pharmaceuticals by 3.2% during the fourth quarter. Swiss National Bank now owns 74,300 shares of the company’s stock valued at $5,869,000 after buying an additional 2,300 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. CLSA set a $146.00 price objective on Mirum Pharmaceuticals in a research note on Monday, June 15th. Robert W. Baird lifted their target price on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Wolfe Research assumed coverage on Mirum Pharmaceuticals in a report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price target on the stock. Finally, TD Cowen raised their price target on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One investment 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, the stock has an average rating of “Moderate Buy” and an average target price of $143.40.

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.