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

Mirum Pharmaceuticals (NASDAQ:MIRM) announced its quarterly earnings data 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 8.78% and a negative return on equity of 16.47%. The firm had revenue of $148.93 million during the quarter, compared to analysts’ expectations of $141.78 million. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s revenue for the quarter 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 Trading Down 14.8%

MIRM stock traded down $16.10 during mid-day trading on Thursday, hitting $92.52. 1,738,238 shares of the company were exchanged, compared to its average volume of 782,583. Mirum Pharmaceuticals has a 12-month low of $36.88 and a 12-month high of $109.28. The firm has a market capitalization of $4.75 billion, a P/E ratio of -107.58 and a beta of 0.49. The business has a fifty day simple moving average of $92.67 and a 200-day simple moving average of $78.81. The company has a quick ratio of 3.16, a current ratio of 3.31 and a debt-to-equity ratio of 1.06.

Insider Buying and Selling

In other news, CEO Christopher Peetz sold 9,108 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $103.30, for a total value of $940,856.40. Following the completion of the transaction, the chief executive officer owned 160,294 shares of the company’s stock, valued at approximately $16,558,370.20. This trade represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric Bjerkholt sold 1,053 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $96.19, for a total transaction of $101,288.07. Following the completion of the transaction, the chief financial officer directly owned 43,741 shares of the company’s stock, valued at $4,207,446.79. This represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,136 shares of company stock valued at $4,352,029 over the last quarter. 14.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC acquired a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth about $32,000. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals during the 3rd quarter worth approximately $33,000. Comerica Bank grew its holdings in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares in the last quarter. Quarry LP purchased a new stake in shares of Mirum Pharmaceuticals in the 3rd quarter valued at approximately $41,000. Finally, Osaic Holdings Inc. raised its holdings 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.

Mirum Pharmaceuticals News Roundup

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

• Positive Sentiment: Q4 revenue beat and strong product growth — Mirum reported Q4 revenue of $148.9M, up ~50% year‑over‑year driven by Livmarli and other bile‑acid product sales, topping estimates and showing clear commercial momentum. Mirum’s Q4 Earnings Lag, Higher Product Sales Drive Y/Y Revenues
• Positive Sentiment: Analyst support remains — several firms raised price targets and kept buy/outperform ratings (Stifel raised PT to $125; TD Cowen to $117; RBC and Citizens still at outperform/market outperform with elevated PTs), signaling continued analyst conviction in Mirum’s growth story. Benzinga analyst coverage roundup RBC / Street Insider
• Neutral Sentiment: FY‑2026 revenue guidance set to $630M–$650M — the range overlaps Street estimates (~$646M) but the midpoint is slightly under consensus, leaving room for mixed investor interpretation depending on execution confidence. Business Wire press release
• Neutral Sentiment: Full earnings materials and call transcripts available — analysts and investors are combing the call/transcript for details on margins, patient uptake, and expense outlook (see Seeking Alpha and The Motley Fool transcripts). Seeking Alpha transcript Fool transcript
• Negative Sentiment: EPS missed expectations — Mirum reported a loss of $0.11/sh versus the consensus $0.02, and the company remains unprofitable with negative net margin and ROE; that EPS miss appears to have been the primary catalyst for the share decline despite the revenue beat. MarketBeat earnings recap
• Negative Sentiment: Short‑term sell pressure and higher volume — trading picked up and shares fell on the mixed release (strong sales but EPS miss/guidance ambiguity), creating a near‑term technical pullback that some analysts call a buying opportunity while others warn to watch margins and guidance execution. Seeking Alpha technical note

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MIRM. Weiss Ratings reissued a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research note on Thursday, January 22nd. Citizens Jmp cut their price objective on shares of Mirum Pharmaceuticals from $140.00 to $132.00 and set a “market outperform” rating for the company in a report on Thursday. Robert W. Baird raised their target price on shares of Mirum Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, December 8th. TD Cowen upped their price target on Mirum Pharmaceuticals from $115.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Leerink Partners cut their price target on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.92.

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.