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Mirum Pharmaceuticals Inc (MIRM)
NASDAQ:MIRM
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Mirum Pharmaceuticals
(NASDAQ:MIRM)
Rating:57Neutral
Price Target:
$51.00
▼(-0.18%Downside)
Positive Factors
Geographic Expansion
Geographic expansion continues with approval in Japan for ALGS and PFIC.
Product Performance
Volixibat shows best-in-class potential for primary biliary cholangitis.
Revenue Growth
The company generated $336M in product revenue in 2024, an 88% YoY increase, driven by robust clinical demand across indications and international market expansion.
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.
Market Expectations
Livmarli sales of $73.2M were above consensus and expectations, indicating continued momentum.
Mirum Pharmaceuticals (MIRM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.53B
Dividend YieldN/A
Average Volume (3M)374.44K
Price to Earnings (P/E)―
Beta (1Y)0.67
Revenue Growth69.31%
EPS Growth57.12%
CountryUS
Employees334
SectorHealthcare
Sector Strength46
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.30
Shares Outstanding49,534,710
10 Day Avg. Volume426,774
30 Day Avg. Volume374,438
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)-1.68
Price to Sales (P/S)0.00
P/FCF Ratio-5.48
Enterprise Value/Market Cap0.25
Enterprise Value/Revenue0.49
Enterprise Value/Gross Profit2.17
Enterprise Value/Ebitda-2.87
Forecast
1Y Price Target
$69.13Price Target Upside35.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
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:May 07, 2025
(Q1-2025)
| % Change Since: 23.94%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth, strong performance of key products, and multiple regulatory approvals, indicating positive business momentum. However, high operating expenses and non-cash charges were noted as challenges.Q1-2025 Updates
Positive Updates
Record-Breaking Revenue Growth
Mirum Pharmaceuticals reported total revenues of $111.6 million for Q1 2025, representing a 61% growth over the first quarter of the previous year.
Updated Revenue Guidance
The company increased its full-year revenue guidance to $435 million to $450 million, driven by robust growth across its commercial medicines.
Regulatory Approvals
Three important regulatory approvals were received, including FDA approval of CTEXLI for CTX treatment and LIVMARLI's approval in Japan for PFIC and Alagille syndrome.
Strong Performance of LIVMARLI
Total global net product sales for LIVMARLI grew to $73.2 million in Q1, an increase of over 70% compared to Q1 2024.
Pipeline Progress
The VISTAS study of Volixibat in PSC is nearing enrollment completion, with top-line data expected in Q2 2026. The VANTAGE study in PBC showed a 3.8 point reduction from baseline in pruritus.
Improved Financial Position
Operating cash flow was positive for the quarter, with a cash contribution margin improvement from approximately 47% to 53% year-over-year.
Negative Updates
High Operating Expenses
Total operating expense for Q1 2025 was $126.8 million, including R&D expenses of $46 million and SG&A expenses of $57.7 million.
Non-Cash Charges
The quarter included non-cash stock-based compensation expense of $15.8 million and intangible amortization and other non-cash items totaling $6 million.
Company Guidance
In the recent call, Mirum Pharmaceuticals provided updated guidance for the fiscal year 2025 following a record-breaking first quarter. The company reported total revenues of $111.6 million, representing a 61% growth over the same period last year. As a result of robust growth from their commercial medicines, Mirum raised its full-year revenue guidance to between $435 million and $450 million. Key drivers included strong sales of LIVMARLI, which saw global net product sales reach $73.2 million, a growth of over 70% compared to the first quarter of 2024. U.S. sales of LIVMARLI were $49.5 million, highlighting strong new patient demand. Additionally, Mirum achieved three regulatory approvals since the beginning of the year, further bolstering its growth prospects. The company also reported that it was cash flow positive for the quarter, with a cash, cash equivalents, and investments balance of $298.6 million as of March 31st, 2025.Mirum Pharmaceuticals Financial Statement Overview
Summary
Mirum Pharmaceuticals shows substantial revenue growth but struggles with profitability due to negative net income and high operational costs. Despite improvements in its balance sheet, high leverage and negative cash flows present financial stability and liquidity risks.Income Statement
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.45
Neutral
Balance Sheet
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.50
Neutral
Cash Flow
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.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 379.25M | 336.89M | 186.37M | 77.06M | 19.14M | 0.00 |
| Gross Profit | 292.42M | 255.25M | 139.34M | 64.69M | 17.23M | -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 Assets | 690.25M | 670.75M | 646.62M | 352.91M | 294.65M | 240.86M |
| Cash, Cash Equivalents and Short-Term Investments | 277.67M | 280.31M | 286.33M | 251.72M | 156.54M | 231.82M |
| Total Debt | 317.16M | 317.76M | 308.14M | 2.19M | 2.61M | 3.26M |
| Total Liabilities | 456.99M | 445.11M | 397.95M | 210.87M | 174.44M | 68.77M |
| Stockholders Equity | 233.26M | 225.64M | 248.67M | -392.82M | 120.21M | -173.17M |
Cash Flow | ||||||
| Free Cash Flow | -7.87M | 9.33M | -91.05M | -120.41M | -151.78M | -89.30M |
| Operating Cash Flow | -6.85M | 10.32M | -70.94M | -120.14M | -132.76M | -89.08M |
| Investing Cash Flow | -106.25M | -90.13M | -107.20M | 7.70M | 48.55M | 37.87M |
| Financing Cash Flow | 22.85M | 17.70M | 336.60M | 109.09M | 73.47M | 181.29M |
Mirum Pharmaceuticals Technical Analysis
Positive
51.09
Price Trends
45.13
Positive
45.75
Positive
44.00
Positive
Market Momentum
1.69
Negative
68.23
Neutral
73.34
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 51.09 is above the 20-day moving average (MA) of 48.50, above the 50-day MA of 45.13, and above the 200-day MA of 44.00, indicating a bullish trend. The MACD of 1.69 indicates Negative momentum. The RSI at 68.23 is Neutral, neither overbought nor oversold. The STOCH value of 73.34 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $2.11B | 1,054.68 | 1.13% | ― | 14.80% | 530.21% | |
60 Neutral | $3.03B | ― | -32.17% | ― | -25.85% | -23.89% | |
57 Neutral | $2.53B | ― | -33.06% | ― | 69.31% | 57.12% | |
51 Neutral | $7.41B | 0.36 | -61.88% | 2.34% | 16.99% | 1.69% | |
45 Neutral | $1.69B | ― | -38.04% | ― | -82.38% | -164.76% | |
41 Neutral | $3.04B | ― | -30.57% | ― | ― | -147.80% | |
40 Underperform | $1.39B | ― | -30.29% | ― | ― | 7.97% |
* Healthcare Sector Average
Performance Comparison
MIRM
Mirum Pharmaceuticals
51.09
16.93
49.56%
VCEL
Vericel
41.73
-3.30
-7.33%
BEAM
Beam Therapeutics
16.80
-6.25
-27.11%
KYMR
Kymera Therapeutics
44.12
13.17
42.55%
MLTX
MoonLake Immunotherapeutics
47.52
5.72
13.68%
EWTX
Edgewise Therapeutics
13.17
-6.21
-32.04%
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.