Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Earnings Results, Misses Expectations By $13.03 EPS

Mirum Pharmaceuticals (NASDAQ:MIRM) announced its quarterly earnings data on Wednesday. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.40) by ($13.03), FiscalAI reports. Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $148.21 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. The firm’s revenue for the quarter 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 Price Performance

NASDAQ:MIRM traded up $4.27 during midday trading on Wednesday, hitting $110.08. The company had a trading volume of 1,005,736 shares, compared to its average volume of 695,247. The company has a quick ratio of 2.55, a current ratio of 2.67 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $6.71 billion, a PE ratio of -229.33 and a beta of 0.52. The stock’s fifty day moving average price is $93.88 and its 200-day moving average price is $85.86. Mirum Pharmaceuticals has a 52-week low of $40.00 and a 52-week high of $110.49.

Insiders Place Their Bets

In other news, CFO Eric Bjerkholt sold 7,287 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total transaction of $670,258.26. Following the completion of the transaction, the chief financial officer directly owned 49,788 shares of the company’s stock, valued at approximately $4,579,500.24. This represents a 12.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joanne Quan sold 7,287 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the insider directly owned 18,864 shares in the company, valued at approximately $1,735,110.72. The trade was a 27.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 76,806 shares of company stock valued at $7,064,616 over the last three months. 14.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in MIRM. CIBC Private Wealth Group LLC purchased a new stake in Mirum Pharmaceuticals in the fourth quarter worth approximately $32,000. Quantbot Technologies LP purchased a new position in shares of Mirum Pharmaceuticals during the 3rd quarter worth $33,000. Comerica Bank raised its position in shares of Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock valued at $40,000 after purchasing an additional 278 shares during the period. Quarry LP bought a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter valued at $41,000. Finally, Osaic Holdings Inc. raised its position in shares of Mirum Pharmaceuticals by 46.5% during 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 during the period.

Key Headlines Impacting Mirum Pharmaceuticals

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

• Positive Sentiment: Topline clinical win: Mirum said the VISTAS study met its primary endpoint for volixibat in primary sclerosing cholangitis — a major development that expands the drug’s market potential and underpins optimism about peak sales and strategic options. Mirum Pharmaceuticals Announces Primary Endpoint Met in VISTAS Study
• Positive Sentiment: Raised fiscal?year revenue outlook: Management guided FY2026 revenue to $660–$680 million, above consensus (~$644M), signaling stronger commercial traction and helping investor sentiment. Mirum Pharmaceuticals Reports First Quarter 2026 Financial Results
• Positive Sentiment: Revenue beat and solid top?line growth: Q1 revenue was $159.9M (up ~43% YoY) and topped analyst estimates, showing underlying commercial momentum even as EPS was negative on a GAAP basis. Mirum Reports Q1 Loss, Beats Revenue Estimates
• Neutral Sentiment: Corporate filings and conference call available: Management released the Q1 report and held an earnings call; the press release and transcript give detail on guidance, one?time items and commercial trends for investors to parse. View Press Release / Conference Materials
• Negative Sentiment: Large GAAP EPS miss: Reported EPS of ($13.43) materially missed consensus (around ($0.40)); the disparity appears tied to non?operational items disclosed in filings, which created headline risk despite the revenue beat. Earnings Report and Conference Call
• Negative Sentiment: Analyst estimate cuts: HC Wainwright trimmed quarterly and FY2026 EPS forecasts even while maintaining a Buy rating and a $175 target, reflecting model revisions that add near?term earnings uncertainty. HC Wainwright Lowers EPS Estimates

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $132.00 price target on shares of Mirum Pharmaceuticals in a report on Tuesday, April 21st. Morgan Stanley upped their price target on shares of Mirum Pharmaceuticals from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen increased their price objective on shares of Mirum Pharmaceuticals from $117.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Evercore set a $126.00 price target on shares of Mirum Pharmaceuticals in a research report on Wednesday, March 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $125.25.

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.