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

Mirum Pharmaceuticals (NASDAQ:MIRM) announced its quarterly earnings data on Wednesday. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.32), FiscalAI reports. The company had revenue of $176.24 million for the quarter, compared to analysts’ expectations of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($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 Trading Up 1.4%

MIRM stock traded up $1.46 during trading hours on Wednesday, hitting $105.79. The company’s stock had a trading volume of 856,163 shares, compared to its average volume of 595,946. The stock has a 50 day moving average price of $110.46 and a two-hundred day moving average price of $101.77. Mirum Pharmaceuticals has a 12 month low of $50.25 and a 12 month high of $130.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MIRM shares. Evercore reiterated an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Raymond James Financial restated a “strong-buy” rating and set a $165.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Mirum Pharmaceuticals from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. HC Wainwright reissued a “buy” rating on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Finally, Robert W. Baird lifted their price objective on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.40.

Insider Activity

In related news, SVP Jolanda Howe sold 2,721 shares of Mirum Pharmaceuticals stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total value of $326,520.00. Following the completion of the sale, the senior vice president owned 3,114 shares of the company’s stock, valued at approximately $373,680. The trade was a 46.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 company’s stock in a transaction 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 owned 42,181 shares of the company’s stock, valued at $5,156,627.25. This represents a 10.60% 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. In the last 90 days, insiders have sold 67,155 shares of company stock worth $7,185,662. 8.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MIRM. PharVision Advisers LLC acquired a new position in Mirum Pharmaceuticals during the 3rd quarter worth $273,000. Janney Montgomery Scott LLC increased its stake in shares of Mirum Pharmaceuticals by 6.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock worth $253,000 after purchasing an additional 200 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Mirum Pharmaceuticals by 389.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company’s stock worth $244,000 after purchasing an additional 3,810 shares during the last quarter. Glenmede Investment Management LP bought a new stake in Mirum Pharmaceuticals during the 3rd quarter valued at approximately $243,000. Finally, Caxton Associates LLP acquired a new stake in Mirum Pharmaceuticals in the 1st quarter valued at approximately $217,000.

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.