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

Mirum Pharmaceuticals (NASDAQ:MIRM) issued its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.13), Zacks reports. Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.98%. The company had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same quarter in the prior year, the business earned $1.00 EPS. The business’s quarterly revenue 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

MIRM traded up $2.59 during midday trading on Friday, reaching $94.78. The company had a trading volume of 368,875 shares, compared to its average volume of 783,786. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06. Mirum Pharmaceuticals has a 1 year low of $36.88 and a 1 year high of $109.28. The company has a market cap of $4.87 billion, a P/E ratio of -197.72 and a beta of 0.49. The business has a 50-day moving average of $93.11 and a two-hundred day moving average of $78.90.

Insider Activity

In related news, CFO Eric Bjerkholt sold 1,421 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was 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 directly owned 42,127 shares in the company, valued at $3,931,712.91. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Peetz sold 9,108 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $103.30, for a total transaction of $940,856.40. Following the completion of the transaction, the chief executive officer owned 160,294 shares in the company, valued at $16,558,370.20. This represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 45,136 shares of company stock worth $4,352,029. 14.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC acquired a new position in Mirum Pharmaceuticals during the fourth quarter worth approximately $32,000. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals in the 3rd quarter worth $33,000. Comerica Bank boosted its holdings in Mirum Pharmaceuticals by 45.1% in the first 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. Quarry LP bought a new stake in shares of Mirum Pharmaceuticals in the third quarter worth $41,000. Finally, Osaic Holdings Inc. raised its stake in shares of Mirum Pharmaceuticals by 46.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,106 shares of the company’s stock valued at $56,000 after purchasing an additional 351 shares in the last quarter.

Trending Headlines about Mirum Pharmaceuticals

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

• Positive Sentiment: Q4 revenue beat — Mirum reported $148.9M in Q4 sales, up ~50% year-over-year and above consensus, led by strong Livmarli and bile-acid drug sales; this top-line strength is the primary bullish driver. Mirum’s Q4 Earnings Lag, Higher Product Sales Drive Y/Y Revenues
• Positive Sentiment: Analyst upgrades — TD Cowen raised its PT to $117 (buy) and Stifel raised its PT to $125 (buy), signaling continued analyst confidence and providing visible upside targets that can support the rally. 13 Analysts Have This To Say About Mirum Pharmaceuticals
• Positive Sentiment: Bullish commentary and technical momentum — recent pieces (Seeking Alpha and others) frame the company’s commercial traction as durable, which can attract momentum-driven buying. Mirum Pharmaceuticals: Nothing Stops This Train (But The Technicals)
• Neutral Sentiment: Mixed analyst adjustments — some firms trimmed price targets modestly (e.g., RBC to $128, Citizens Jmp to $132) but maintained outperform/market‑outperform stances, leaving consensus sentiment still favorable despite small revisions. Benzinga coverage of analyst moves
• Neutral Sentiment: Analyst-summary pieces — consolidation of multiple analyst views (13-analyst roundups) highlights varied price targets and rationale; useful for gauging market expectations but not a single catalyst. 13 Analysts Have This To Say About Mirum Pharmaceuticals
• Negative Sentiment: EPS miss — Mirum reported a loss of $0.11/share versus consensus of $0.02, which explains some short-term selling pressure and investor concern over near-term profitability. Mirum Reports Q4 Loss, Tops Revenue Estimates
• Negative Sentiment: Coverage of a sharp earlier drop — an AAII write-up explains a recent ~13% pullback in MIRM, underscoring that volatility following the mixed print and any disappointing messaging on margins/guidance can amplify swings. Why Mirum Pharmaceuticals, Inc.’s (MIRM) Stock Is Down 13.46%
• Negative Sentiment: Guidance ambiguity — FY‑2026 revenue was guided to $630M–$650M (consensus ~$646M); the range houses the consensus but the lower bound and the lack of a firm EPS target in the release leave some uncertainty about margins and profitability trajectory. Business Wire: Q4 results and guidance

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MIRM shares. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. Citigroup reaffirmed an “outperform” rating on shares of Mirum Pharmaceuticals in a report on Friday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, December 8th. Stifel Nicolaus increased their target price on Mirum Pharmaceuticals from $98.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday. Finally, 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. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.92.

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.