Mirum Pharmaceuticals (MIRM) AI Stock Analysis

• Market Cap: $3.38B
• Dividend Yield: N/A
• Average Volume (3M): 621.95K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.68
• Revenue Growth: 53.66%
• EPS Growth: 58.63%
• Country: US
• Employees: 334
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.05
• Shares Outstanding: 51,393,574
• 10 Day Avg. Volume: 684,411
• 30 Day Avg. Volume: 621,950
• PEG Ratio: 0.42
• Price to Book (P/B): 8.71
• Price to Sales (P/S): 5.83
• P/FCF Ratio: 210.57
• Enterprise Value/Market Cap: 1.22
• Enterprise Value/Revenue: 8.74
• Enterprise Value/Gross Profit: 10.93
• Enterprise Value/Ebitda: -751.40
• 1Y Price Target: $96.67
• Price Target Upside: 48.72% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): -0.36
• Revenue Forecast (FY): $509.14M

• Rating: 53 Neutral
• Price Target: $69.00 ▲(6.15% Upside)

Mirum Pharmaceuticals shows promising revenue growth and strategic expansion through mergers, but faces challenges with profitability, high leverage, and a patent dispute. The technical indicators suggest bearish momentum, and the valuation reflects ongoing financial struggles.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful product adoption and market expansion, enhancing long-term business sustainability.

Strategic Acquisition

The acquisition of Bluejay Therapeutics strengthens Mirum's position in rare liver diseases, potentially expanding its product offerings and market reach.

International Expansion

Successful international expansion supports revenue diversification and reduces dependency on domestic markets, enhancing growth prospects.

Negative Factors

High Leverage

High leverage can strain financial flexibility and increase risk, potentially impacting long-term financial stability.

Profitability Challenges

Ongoing profitability issues highlight challenges in cost management, which could hinder long-term financial performance.

Patent Dispute

The patent challenge from Sandoz poses a risk to Mirum's market exclusivity, potentially affecting future revenue and market position.

Mirum Pharmaceuticals Business Overview & Revenue Model

Company Description

Mirum Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. The company's lead product candidate is LIVMARLI, an investigational oral drug for the treatment of progressive familial intrahepatic cholestasis disease, as well as for the treatment of Alagille syndrome and biliary atresia disease. It also develops Volixibat drug for treatment of intrahepatic cholestasis of pregnancy and primary sclerosing cholangitis. Mirum Pharmaceuticals, Inc. was incorporated in 2018 and is headquartered in Foster City, California.

How the Company Makes Money

Mirum Pharmaceuticals generates revenue through the commercialization of its lead product, maralixibat, especially following its approval for specific indications related to rare liver diseases. The company earns revenue from product sales, which are driven by market demand and the effectiveness of its therapies. Additionally, Mirum may engage in strategic partnerships or collaborations with other pharmaceutical companies to enhance its research and development efforts, which can provide upfront payments, milestone payments, and royalties on future sales. These partnerships can significantly bolster its financial resources and contribute to its overall earnings.

Mirum Pharmaceuticals Financial Statement Overview

Summary

Mirum Pharmaceuticals shows revenue growth but struggles with profitability, as indicated by negative net profit margins. The balance sheet reveals high leverage, posing financial risks, while cash flow management shows some strengths but also volatility.

Income Statement

Mirum Pharmaceuticals shows a positive revenue growth trend with a 9.93% increase in TTM, indicating potential market expansion. However, the company is struggling with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin is strong at 79.92%, but the negative net profit margin of -8.78% highlights ongoing challenges in managing operational costs.

Balance Sheet

The company has a high debt-to-equity ratio of 1.08, suggesting significant leverage which could pose financial risks. The return on equity is negative at -24.76%, indicating inefficiencies in generating returns for shareholders. The equity ratio is relatively low, reflecting a higher reliance on debt financing.

Cash Flow

Free cash flow has significantly improved, but the growth rate is negative, indicating volatility. The operating cash flow to net income ratio is 0.28, showing some ability to convert income into cash, but it remains low. The free cash flow to net income ratio is nearly 1, suggesting that the company is managing its cash flow effectively relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	471.79M	336.89M	186.37M	77.06M	19.14M	0.00
Gross Profit	377.04M	255.25M	139.34M	64.69M	17.23M	-623.00K
EBITDA	-5.49M	-48.97M	-136.49M	-122.85M	-65.39M	-102.31M
Net Income	-41.42M	-87.94M	-163.41M	-135.66M	-83.99M	-103.27M
Balance Sheet
Total Assets	785.12M	670.75M	646.62M	352.91M	294.65M	240.86M
Cash, Cash Equivalents and Short-Term Investments	375.55M	280.31M	286.33M	151.72M	156.54M	231.82M
Total Debt	318.76M	317.76M	308.14M	2.19M	2.61M	3.26M
Total Liabilities	493.07M	445.11M	397.95M	210.87M	174.44M	68.77M
Stockholders Equity	292.05M	225.64M	248.67M	142.04M	120.21M	172.09M
Cash Flow
Free Cash Flow	44.32M	9.33M	-91.05M	-120.41M	-151.78M	-89.30M
Operating Cash Flow	44.69M	10.32M	-70.94M	-120.14M	-132.76M	-89.08M
Investing Cash Flow	-24.32M	-90.13M	-107.20M	7.70M	48.55M	37.87M
Financing Cash Flow	36.48M	17.70M	336.60M	109.09M	73.47M	181.29M

Mirum Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 65.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIRM, the sentiment is Negative. The current price of 65 is below the 20-day moving average (MA) of 69.81, below the 50-day MA of 70.83, and above the 200-day MA of 57.58, indicating a neutral trend. The MACD of -1.45 indicates Positive momentum. The RSI at 36.05 is Neutral, neither overbought nor oversold. The STOCH value of 15.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MIRM.

Mirum Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPRX	83 Outperform	$2.80B	13.39	27.52%	―	25.56%	44.42%
ARWR	57 Neutral	$9.35B	―	-0.50%	―	23258.15%	99.12%
RARE	57 Neutral	$3.47B	―	-325.76%	―	20.63%	8.09%
IBRX	55 Neutral	$2.27B	―	―	―	1025.95%	52.91%
MIRM	53 Neutral	$3.38B	―	-15.81%	―	53.66%	58.63%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
APLS	50 Neutral	$3.12B	84.09	14.10%	―	42.11%	―

Mirum Pharmaceuticals Corporate Events

Mirum Pharmaceuticals Announces Merger with Bluejay Therapeutics

On December 6, 2025, Mirum Pharmaceuticals announced a merger agreement with Bluejay Therapeutics, aiming to acquire Bluejay’s investigational drug brelovitug, a monoclonal antibody for chronic hepatitis delta virus (HDV). This acquisition, expected to close in the first quarter of 2026, will enhance Mirum’s leadership in rare liver diseases, potentially leading to a biologics license application submission in 2027. Additionally, Mirum has secured a $200 million private placement to support clinical development and commercial activities post-acquisition.

Mirum Pharmaceuticals Faces Patent Challenge from Sandoz

On November 17, 2025, Mirum Pharmaceuticals received a Paragraph IV Certification Notice from Sandoz, indicating Sandoz’s intent to produce a generic version of Livmarli. Mirum plans to defend its patents vigorously by filing a patent infringement suit against Sandoz, which could delay the FDA’s approval of the generic drug for up to 30 months.