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Mirum Pharmaceuticals (MIRM)
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Mirum Pharmaceuticals (MIRM) AI Stock Analysis

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MIRM

Mirum Pharmaceuticals

(NASDAQ:MIRM)

Rating:58Neutral
Price Target:
$56.00
▼(-6.39% Downside)
Mirum Pharmaceuticals' overall stock score is driven by strong earnings call sentiment and positive technical indicators, indicating potential growth. However, financial performance challenges, particularly in profitability and cash flow, weigh down the score. Valuation concerns due to negative earnings and lack of dividends also impact the overall assessment.
Positive Factors
International Expansion
Mirum’s commercial partner in Japan, Takeda, secured reimbursement for LIVMARLI and began sales, boosting international presence.
Product Development
The recently approved Livmarli tablet formulation is seen as potentially driving new patient and switch scenarios by increasing flexibility.
Revenue Growth
LIVMARLI commercial momentum drives up 2025 revenue guidance.
Negative Factors
Adverse Events
Diarrhea was the most commonly reported adverse event associated with volixibat.
Competitive Landscape
Livmarli's oral tablet formulation could narrow the competitive gap in PFIC new patient starts.

Mirum Pharmaceuticals (MIRM) vs. SPDR S&P 500 ETF (SPY)

Mirum Pharmaceuticals Business Overview & Revenue Model

Company DescriptionMirum 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 MoneyMirum Pharmaceuticals generates revenue primarily through the sale and distribution of its proprietary pharmaceutical products designed to treat rare liver diseases. The company's revenue model is based on commercializing its FDA-approved medications, which are marketed to healthcare providers and specialists in the field of hepatology. Additionally, Mirum may pursue strategic partnerships and collaborations with other biopharmaceutical firms or research institutions to enhance its product pipeline and expand its market reach. Revenue streams are bolstered by potential milestone payments, royalties, and licensing fees associated with these partnerships, contributing to the company's financial growth.

Mirum Pharmaceuticals Earnings Call Summary

Earnings Call Date:Aug 06, 2025
(Q2-2025)
|
% Change Since: 12.04%|
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive overall sentiment, with strong revenue growth, successful international expansion, and significant pipeline progress. While there are challenges such as high operating expenses and variability in international sales, the highlights significantly outweigh the lowlights.
Q2-2025 Updates
Positive Updates
Strong Revenue Growth
Mirum Pharmaceuticals reported total revenues of $128 million for the second quarter of 2025, representing a 64% growth over the same quarter last year.
Increased Full-Year Revenue Guidance
Given the growth observed, Mirum raised its full-year revenue guidance for 2025 to be between $490 million and $510 million, indicating close to 50% top line growth.
International Expansion Success
Livmarli saw durable growth internationally with $31 million in net product sales, driven by expanding reimbursement and strong performance in partner markets, including a successful launch in Japan by partner Takeda.
Pipeline Progress
Significant advancements in the pipeline, including the VISTAS Phase IIb study in primary sclerosing cholangitis (PSC) on track for completion, and the initiation of a Phase II study for MRM-3379 in Fragile X syndrome by the end of the year.
Positive Financial Performance
Mirum was cash flow positive for the quarter with cash, cash equivalents, and investments totaling $322 million, a $29 million increase from the end of last year.
Negative Updates
Operating Expenses
Total operating expenses for the quarter ended June 30 were $133 million, including significant R&D and SG&A expenses.
Variability in International Sales
Quarter-to-quarter variation in international product sales due to large periodic orders from Takeda, creating some unpredictability in revenue.
Company Guidance
During the call, Mirum Pharmaceuticals provided updated guidance for 2025, projecting full-year revenue to be between $490 million and $510 million, reflecting a near 50% year-over-year growth. This increase in guidance is driven by a strong second quarter performance, where total revenues reached $128 million, marking a 64% growth compared to the previous year. The growth is attributed primarily to the success of Livmarli, which generated approximately $57 million in net product sales in the U.S. and $31 million internationally. Additionally, the company saw robust performance from its bile acid portfolio, contributing approximately $40 million in revenue. Mirum is optimistic about its pipeline, with pivotal studies anticipated to yield results in the next 24 months, and is advancing its Phase II study for MRM-3379 in Fragile X syndrome. The company remains cash flow positive, with $322 million in cash, cash equivalents, and investments by the end of June 2025.

Mirum Pharmaceuticals Financial Statement Overview

Summary
Mirum Pharmaceuticals is experiencing rapid revenue growth, yet it continues to face profitability challenges as indicated by negative net income and EBIT. The balance sheet shows improved equity positions, but high leverage remains a concern. Negative cash flows highlight liquidity risks, although there are signs of operational improvement. Overall, while the company shows promising growth potential, it faces significant financial stability and profitability challenges.
Income Statement
45
Neutral
Mirum Pharmaceuticals has shown significant revenue growth over the years, with TTM revenue at $379.3 million compared to $19.1 million in 2021. However, the company is still reporting negative net income, with a TTM net income of -$77.3 million. Gross profit margins remain strong at 77.1% TTM but the company struggles with negative EBIT and EBITDA margins due to high operational costs.
Balance Sheet
50
Neutral
The balance sheet shows a stable equity position with a TTM stockholders' equity of $233.3 million. The debt-to-equity ratio is relatively high at 1.36, indicating significant leverage. However, the equity ratio is 33.8%, suggesting a moderate level of equity financing. The company faces challenges with liabilities exceeding assets in previous years but has improved its balance sheet recently.
Cash Flow
40
Negative
The company's cash flow from operations is negative at -$6.8 million TTM, indicating potential challenges in generating cash internally. Free cash flow is also negative, impacting liquidity. However, there is a positive trend in operating cash flow to net income ratio, showing some operational improvements compared to past years.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue379.25M336.89M186.37M77.06M19.14M0.00
Gross Profit292.42M255.25M139.34M64.69M17.23M-623.00K
EBITDA-37.56M-48.97M-136.49M-122.41M-65.39M-102.31M
Net Income-77.34M-87.94M-163.41M-135.66M-83.99M-103.27M
Balance Sheet
Total Assets690.25M670.75M646.62M352.91M294.65M240.86M
Cash, Cash Equivalents and Short-Term Investments277.67M280.31M286.33M251.72M156.54M231.82M
Total Debt317.16M317.76M308.14M2.19M2.61M3.26M
Total Liabilities456.99M445.11M397.95M210.87M174.44M68.77M
Stockholders Equity233.26M225.64M248.67M-392.82M120.21M-173.17M
Cash Flow
Free Cash Flow-7.87M9.33M-91.05M-120.41M-151.78M-89.30M
Operating Cash Flow-6.85M10.32M-70.94M-120.14M-132.76M-89.08M
Investing Cash Flow-106.25M-90.13M-107.20M7.70M48.55M37.87M
Financing Cash Flow22.85M17.70M336.60M109.09M73.47M181.29M

Mirum Pharmaceuticals Technical Analysis

Technical Analysis Sentiment
Positive
Last Price59.82
Price Trends
50DMA
50.30
Positive
100DMA
46.76
Positive
200DMA
45.74
Positive
Market Momentum
MACD
1.16
Negative
RSI
79.13
Negative
STOCH
70.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIRM, the sentiment is Positive. The current price of 59.82 is above the 20-day moving average (MA) of 52.57, above the 50-day MA of 50.30, and above the 200-day MA of 45.74, indicating a bullish trend. The MACD of 1.16 indicates Negative momentum. The RSI at 79.13 is Negative, neither overbought nor oversold. The STOCH value of 70.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MIRM.

Mirum Pharmaceuticals Risk Analysis

Mirum Pharmaceuticals disclosed 72 risk factors in its most recent earnings report. Mirum Pharmaceuticals reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Mirum Pharmaceuticals Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
$2.71B13.9128.49%29.97%178.11%
61
Neutral
$3.06B-108.49%20.02%33.45%
58
Neutral
$2.57B-24.19%62.33%48.34%
51
Neutral
$7.39B0.36-62.86%2.37%15.48%-2.68%
51
Neutral
$2.27B-24.67%1436.97%68.03%
49
Neutral
$2.73B-182.60%26.77%24.18%
45
Neutral
$2.20B78.99%10238.41%47.67%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
MIRM
Mirum Pharmaceuticals
59.82
19.95
50.04%
ARWR
Arrowhead Pharmaceuticals
16.06
-9.79
-37.87%
CPRX
Catalyst Pharma
19.64
1.34
7.32%
RARE
Ultragenyx Pharmaceutical
27.83
-22.46
-44.66%
IBRX
ImmunityBio
2.40
-1.95
-44.83%
APLS
Apellis Pharmaceuticals
24.33
-13.33
-35.40%

Mirum Pharmaceuticals Corporate Events

Executive/Board ChangesShareholder Meetings
Mirum Pharmaceuticals Holds 2025 Annual Stockholders Meeting
Positive
May 30, 2025

On May 29, 2025, Mirum Pharmaceuticals held its 2025 Annual Meeting of Stockholders, where key decisions were made. Stockholders elected three Class III directors to serve until 2028, ratified Ernst & Young LLP as the independent public accounting firm for 2025, and approved executive compensation, indicating continued support for the company’s leadership and strategic direction.

The most recent analyst rating on (MIRM) stock is a Buy with a $55.00 price target. To see the full list of analyst forecasts on Mirum Pharmaceuticals stock, see the MIRM Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 07, 2025