Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Quarterly Earnings Results, Misses Expectations 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 the consensus estimate of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The business’s revenue was up 37.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share.

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 Stock Up 1.4%

NASDAQ:MIRM opened at $105.79 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. Mirum Pharmaceuticals has a 52-week low of $50.25 and a 52-week high of $130.00. The company has a market cap of $6.45 billion, a PE ratio of -7.77 and a beta of 0.52. The stock has a 50-day simple moving average of $110.46 and a 200 day simple moving average of $101.77.

Key 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, up 37.9% year over year and above the $166.33 million consensus estimate. The company also raised or reaffirmed full-year 2026 revenue guidance at $680 million-$700 million, ahead of Wall Street’s $675.1 million estimate. Mirum Pharmaceuticals Q2 earnings report
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a consensus “Moderate Buy” rating and an average price target of $143.40, well above the recent trading level. Morgan Stanley previously raised its target to $150 and maintained an overweight rating. Mirum Pharmaceuticals analyst ratings
• Neutral Sentiment: The Q2 earnings call transcript provides additional management commentary for investors, but the supplied reports do not identify a specific new catalyst or change in the company’s development and commercialization outlook. Mirum Pharmaceuticals Q2 2026 earnings call transcript
• Negative Sentiment: Mirum posted a quarterly loss of approximately $0.80 per share on an adjusted basis, narrowly missing the $0.77 consensus estimate; the reported $1.06 per-share loss under another earnings measure was also below expectations. The loss widened from $0.12 per share a year earlier, highlighting continued profitability pressure. Mirum Pharmaceuticals Q2 loss report
• Negative Sentiment: Senior Vice President Jolanda Howe sold 1,840 shares worth $193,733.60, reducing her direct holdings by 59.09%. Because the transaction was made under a pre-arranged Rule 10b5-1 plan, it may be less concerning than discretionary selling, but it nevertheless adds modest selling pressure. Mirum Pharmaceuticals insider sale

Analysts Set New Price Targets

Several research analysts have commented on MIRM shares. Weiss Ratings downgraded Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright reissued a “buy” rating on shares of Mirum Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada lifted their target price on shares of Mirum Pharmaceuticals from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley upped their price target on shares of Mirum Pharmaceuticals from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.40.

Insider Buying and Selling

In other news, SVP Jolanda Howe sold 1,840 shares of the company’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 transaction of $193,733.60. Following the sale, the senior vice president owned 1,274 shares in the company, valued at $134,139.46. This represents a 59.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 on Monday, July 6th. The shares were sold at an average price of $122.25, for a total value of $611,250.00. Following the sale, the chief financial officer directly owned 42,181 shares of the company’s stock, valued at $5,156,627.25. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 67,155 shares of company stock worth $7,185,662. Corporate insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after purchasing an additional 278 shares in the last quarter. AQR Capital Management LLC increased its position in Mirum Pharmaceuticals by 307.3% during the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company’s stock valued at $2,211,000 after purchasing an additional 37,028 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mirum Pharmaceuticals by 7.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company’s stock worth $1,176,000 after buying an additional 1,720 shares during the period. Caxton Associates LLP bought a new position in shares of Mirum Pharmaceuticals in the 1st quarter worth about $217,000. Finally, Empowered Funds LLC increased its holdings in Mirum Pharmaceuticals by 15.4% in the first quarter. Empowered Funds LLC now owns 38,386 shares of the company’s stock worth $1,729,000 after purchasing an additional 5,120 shares in the last quarter.

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.