Mirum Pharmaceuticals (MIRM) AI Stock Analysis

• Market Cap: $3.91B
• Dividend Yield: N/A
• Average Volume (3M): 717.49K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.66
• 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: 51,683,838
• 10 Day Avg. Volume: 540,737
• 30 Day Avg. Volume: 717,492
• 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: 1.06
• Enterprise Value/Revenue: 8.74
• Enterprise Value/Gross Profit: 10.93
• Enterprise Value/Ebitda: -751.40
• 1Y Price Target: $102.33
• Price Target Upside: 33.83% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): -0.32
• Revenue Forecast (FY): $609.39M

• Rating: 56 Neutral
• Price Target: $80.00 ▲(4.63% Upside)

Mirum Pharmaceuticals' overall score is driven by strong earnings call results and strategic corporate events, indicating growth potential. However, financial performance and valuation concerns, including high leverage and negative profitability, weigh down the score. Technical indicators suggest a positive trend but warrant caution due to overbought signals.

Positive Factors

Revenue Growth

The strong revenue growth indicates robust market demand and successful product commercialization, supporting long-term business expansion.

International Expansion

Successful international expansion enhances market reach and diversifies revenue streams, strengthening the company's global presence.

Merger with Bluejay Therapeutics

The merger with Bluejay Therapeutics could expand Mirum's product pipeline and market position in liver diseases, driving future growth.

Negative Factors

High Leverage

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

Patent Challenges

Ongoing patent challenges could threaten market exclusivity, impacting revenue from key products and increasing legal costs.

Profitability Issues

Struggles with profitability indicate challenges in cost management, which could hinder sustainable growth and investor confidence.

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: Positive
• Last Price: 76.46
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 76.46 is above the 20-day moving average (MA) of 73.31, above the 50-day MA of 71.80, and above the 200-day MA of 59.89, indicating a bullish trend. The MACD of 2.14 indicates Negative momentum. The RSI at 55.47 is Neutral, neither overbought nor oversold. The STOCH value of 37.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	13.18	27.52%	―	25.56%	44.42%
ARWR	65 Neutral	$8.68B	-1,053.72	-0.50%	―	23258.15%	99.12%
MIRM	56 Neutral	$3.91B	-88.72	-15.81%	―	53.66%	58.63%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
APLS	50 Neutral	$3.15B	80.63	14.10%	―	42.11%	―
IBRX	48 Neutral	$2.05B	-5.09	―	―	1025.95%	52.91%
RARE	46 Neutral	$2.23B	-3.80	-325.76%	―	20.63%	8.09%

Mirum Pharmaceuticals Corporate Events

Mirum Files Patent Suits to Block Livmarli Generics

In November 2025, Mirum Pharmaceuticals received Paragraph IV certification notice letters from multiple generic drug makers, including Sandoz, Annora Pharma, Zydus Lifesciences Global FZE and Zenara Pharma, indicating that these companies had filed Abbreviated New Drug Applications with the U.S. Food and Drug Administration seeking approval to market generic versions of Livmarli (maralixibat). On December 19, 2025, Mirum responded by filing patent infringement lawsuits in the U.S. District Court for the District of Delaware, alleging infringement of its Orange Book-listed patents for Livmarli and securing an automatic 30‑month stay that prevents the FDA from granting final approval of the ANDAs, temporarily protecting Mirum’s market exclusivity for its flagship liver disease therapy and delaying potential generic competition.

The most recent analyst rating on (MIRM) stock is a Buy with a $140.00 price target. To see the full list of analyst forecasts on Mirum Pharmaceuticals stock, see the MIRM Stock Forecast page.

Mirum Pharmaceuticals Raises Capital via Private Placement

On December 18, 2025, Mirum Pharmaceuticals entered into a subscription agreement with entities affiliated with institutional investor TCGX for a private placement of 1,000,000 common shares at $68.48 per share, raising approximately $68.5 million in gross proceeds in a transaction relying on private-offering exemptions from U.S. securities registration. Together with a separate $200 million private placement announced earlier in December, the new financing is intended to fund clinical development and commercial activities tied to Mirum’s proposed acquisition of Bluejay Therapeutics, a privately held biotech focused on viral and liver diseases, with both private placements and the Bluejay deal expected to close concurrently in the first quarter of 2026, subject to regulatory approvals and customary conditions, while Mirum has agreed to register the resale of the new shares for the investors after closing.

The most recent analyst rating on (MIRM) stock is a Buy with a $140.00 price target. To see the full list of analyst forecasts on Mirum Pharmaceuticals stock, see the MIRM Stock Forecast page.

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.

The most recent analyst rating on (MIRM) stock is a Hold with a $69.00 price target. To see the full list of analyst forecasts on Mirum Pharmaceuticals stock, see the MIRM Stock Forecast page.

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.

The most recent analyst rating on (MIRM) stock is a Buy with a $95.00 price target. To see the full list of analyst forecasts on Mirum Pharmaceuticals stock, see the MIRM Stock Forecast page.