Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Down Following Weak Earnings

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $105.79, but opened at $90.25. Mirum Pharmaceuticals shares last traded at $96.1780, with a volume of 727,686 shares trading hands.

The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The firm’s quarterly revenue was up 37.9% compared to the same quarter last year.

More Mirum Pharmaceuticals News

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

• Positive Sentiment: Mirum reported second-quarter revenue of $176.24 million, above the $166.33 million analyst estimate and up 37.9% year over year. The company also raised its 2026 revenue outlook to $680 million-$700 million, ahead of the $675.1 million consensus estimate. Mirum Pharmaceuticals Reports Q2 Loss, Beats Revenue Estimates
• Positive Sentiment: HC Wainwright lowered its price target from $185 to $140 but maintained a “buy” rating. The new target implies roughly 32% upside from the reference price of $105.79, indicating the firm still sees substantial appreciation potential. HC Wainwright Price Target Update
• Neutral Sentiment: The Q2 earnings call and accompanying metrics review provided additional detail on the quarter’s performance and outlook, with investors likely focused on commercial growth, operating expenses and the path toward profitability. Mirum Pharmaceuticals Q2 2026 Earnings Call Transcript
• Negative Sentiment: Mirum posted a quarterly loss wider than expectations. The company reported a loss of approximately $0.80-$1.06 per share, versus consensus estimates ranging from $0.74 to $0.77, and compared with a $0.12 loss a year earlier. Mirum Q2 Earnings Key Metrics
• Negative Sentiment: SVP Jolanda Howe sold 1,840 shares worth $193,733.60, reducing her direct ownership by 59.09%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than discretionary insider selling, but it may still attract investor attention. Mirum Pharmaceuticals Insider Sale

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MIRM. Robert W. Baird lifted their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Citigroup restated an “outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday. Stifel Nicolaus set a $136.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. TD Cowen boosted their price target on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.07.

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred 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 sale, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at $23,758,161.43. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 1,840 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $105.29, for a total value of $193,733.60. Following the sale, the senior vice president owned 1,274 shares of the company’s stock, valued at $134,139.46. The trade was a 59.09% 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 three months, insiders sold 67,155 shares of company stock worth $7,185,662. Corporate insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals during the fourth quarter worth $30,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth about $32,000. CIBC Private Wealth Group LLC purchased a new position in shares of Mirum Pharmaceuticals in the fourth quarter worth about $32,000. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals during the third quarter worth about $33,000. Finally, Comerica Bank boosted its position in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the last quarter.

Mirum Pharmaceuticals Stock Performance

The company has a market cap of $5.72 billion, a PE ratio of -6.85 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. The firm’s 50 day moving average is $110.46 and its 200-day moving average is $101.77.

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.