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

07 May 2026, 00:38 by Renee Jackson · The Cerbat Gem

Mirum Pharmaceuticals (NASDAQ:MIRM – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($13.43) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $159.88 million during the quarter, compared to analysts’ expectations of $148.21 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The company’s quarterly revenue was up 43.3% compared to the same quarter last year.

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 trading hours on Wednesday, hitting $110.08. The company had a trading volume of 1,005,736 shares, compared to its average volume of 695,247. Mirum Pharmaceuticals has a 52 week low of $40.00 and a 52 week high of $110.49. The firm has a 50 day simple moving average of $93.88 and a 200 day simple moving average of $85.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of -229.33 and a beta of 0.52.

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 40,985 shares of Mirum Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $3,769,800.30. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $17,872,541.82. This trade represents a 17.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Eric Bjerkholt sold 7,287 shares of Mirum Pharmaceuticals stock in a transaction dated 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 chief financial officer owned 49,788 shares of the company’s stock, valued at approximately $4,579,500.24. This trade represents a 12.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 76,806 shares of company stock worth $7,064,616 over the last quarter. Insiders own 14.36% of the company’s stock.

Institutional Trading of Mirum Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in shares of Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company’s stock valued at $253,000 after acquiring an additional 200 shares during the last quarter. Comerica Bank boosted 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 acquiring an additional 278 shares during the last quarter. Osaic Holdings Inc. boosted 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 acquiring an additional 351 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Mirum Pharmaceuticals during the 4th quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Mirum Pharmaceuticals by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,793 shares of the company’s stock valued at $1,160,000 after acquiring an additional 440 shares during the last quarter.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on MIRM. HC Wainwright raised their target price on Mirum Pharmaceuticals from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday. Evercore set a $126.00 target price on Mirum Pharmaceuticals in a research report on Wednesday, March 4th. Leerink Partners decreased their target price on Mirum Pharmaceuticals from $120.00 to $118.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mirum Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Mirum Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.25.

Get Our Latest Analysis on Mirum Pharmaceuticals

Mirum Pharmaceuticals Company Profile

(Get Free Report)

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.