Mirum Pharmaceuticals (NASDAQ:MIRM) Announces Quarterly Earnings Results, Misses Expectations By $13.06 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) posted its quarterly earnings data on Wednesday. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($13.06), FiscalAI reports. Mirum Pharmaceuticals had a negative return on equity of 8.53% and a negative net margin of 4.48%.The business had revenue of $159.88 million for the quarter, compared to the consensus estimate of $148.21 million. During the same period in the previous year, the firm earned ($0.30) EPS. The company’s revenue was up 43.3% on a year-over-year basis.

Here are the key takeaways from Mirum Pharmaceuticals’ conference call:

• Raised full-year revenue guidance to $660M–$680M, driven by strong LIVMARLI uptake (notably PFIC in adults) and stronger-than-expected international sales.
• Clinical progress is expanding Mirum beyond pediatrics — the VISTAS study (volixibat in PSC) showed significant pruritus improvement and the AZURE?1 Phase IIb (brelovitug in hepatitis delta) supported activity, with late?breaking presentations expected at EASL.
• Mirum licensed zolegorsertib (ALK2 inhibitor) from Incyte for FOP; an NDA is in priority review with a PDUFA on Sept 26 and Mirum expects a potential launch by year?end if approved, targeting a strategic fit in its rare genetic franchise and a >$200M peak sales opportunity.
• Q1 shows revenue growth (net product sales ? $160M) and cash/investments of ? $421M, but operating expense was elevated ($949M) due mainly to one?time Bluejay acquisition costs; management says R&D investment is funded, expects operating cash flow positive next year and GAAP profitability by 2028.
• Mirum plans to expand its U.S. liver commercial team from ~20 to ~60 field reps to reach >4,000 liver healthcare providers, supporting launches and commercialization in PSC, hepatitis delta and adult liver settings.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM traded down $7.15 during mid-day trading on Thursday, hitting $102.93. 1,975,212 shares of the company traded hands, compared to its average volume of 843,904. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67. The stock has a 50-day moving average price of $93.88 and a two-hundred day moving average price of $85.86. Mirum Pharmaceuticals has a 1 year low of $40.00 and a 1 year high of $112.00. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of -214.43 and a beta of 0.52.

Analysts Set New Price Targets

MIRM has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank Of Canada lifted their target price on shares of Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen lifted their target price on shares of Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lifted their target price on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, HC Wainwright set a $185.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Mirum Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $136.42.

Insider Activity

In other news, COO Peter Radovich sold 16,515 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $1,519,049.70. Following the completion of the transaction, the chief operating officer directly owned 40,272 shares of the company’s stock, valued at $3,704,218.56. The trade was a 29.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joanne Quan sold 7,287 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the insider directly owned 18,864 shares of the company’s stock, valued at $1,735,110.72. The trade was a 27.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 76,806 shares of company stock valued at $7,064,616 over the last three months. Corporate insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MIRM. Janus Henderson Group PLC increased its holdings in Mirum Pharmaceuticals by 21.4% during the fourth quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company’s stock valued at $479,050,000 after buying an additional 1,067,722 shares during the last quarter. State Street Corp increased its holdings in Mirum Pharmaceuticals by 59.2% during the fourth quarter. State Street Corp now owns 2,143,992 shares of the company’s stock valued at $169,354,000 after buying an additional 797,088 shares during the last quarter. Wellington Management Group LLP increased its holdings in Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company’s stock valued at $57,965,000 after buying an additional 672,118 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Mirum Pharmaceuticals by 709.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company’s stock valued at $44,889,000 after buying an additional 536,674 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in Mirum Pharmaceuticals by 2,116.6% during the third quarter. Voloridge Investment Management LLC now owns 389,574 shares of the company’s stock valued at $28,560,000 after buying an additional 371,999 shares during the last quarter.

Key Stories Impacting Mirum Pharmaceuticals

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

• Positive Sentiment: Q1 revenue beat and company raised its 2026 sales outlook — Mirum reported stronger-than-expected sales driven by Livmarli and related bile-acid therapies and lifted its 2026 revenue view, a clear fundamental positive for growth expectations. Mirum’s Q1 Earnings & Revenues Beat Estimates, 2026 View Raised
• Positive Sentiment: Company issued FY2026 revenue guidance above Street consensus ($660–$680M vs. ~$644M consensus), supporting the revenue-growth story. Mirum Pharmaceuticals Reports First Quarter 2026 Financial Results and Provides Business Update
• Positive Sentiment: Pipeline momentum — Mirum discussed topline clinical results in primary sclerosing cholangitis and hepatitis delta, which could expand addressable markets if confirmed. Mirum Discusses Topline Clinical Results
• Neutral Sentiment: Robert W. Baird raised its price target to $129 and kept an outperform rating — this is constructive for sentiment and longer-term upside but may already be priced in after recent gains. Baird price-target raise (reported)
• Neutral Sentiment: Earnings call transcript released — useful for details on one-time items and cadence, but the market focus is on headline numbers and guidance. Q1 2026 Earnings Call Transcript
• Negative Sentiment: Large GAAP EPS swing/confusion: a MarketBeat summary flagged a reported GAAP EPS of ($13.43) vs. consensus (~$0.37) — such headline misses (even if driven by non?cash or one?time items) can trigger short?term selling and volatility. MarketBeat Q1 coverage (GAAP EPS note)
• Negative Sentiment: Some sell?side estimate revisions: HC Wainwright trimmed near?term EPS forecasts, highlighting uncertainty on margin timing — analyst cuts can weigh on sentiment despite the revenue beat. HC Wainwright estimate changes (MarketBeat summary)

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.