Mirum Pharmaceuticals (MIRM) AI Stock Analysis

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Mirum Pharmaceuticals

(NASDAQ:MIRM)

54Neutral

Mirum Pharmaceuticals shows promising revenue growth and positive business momentum, especially with recent regulatory approvals and strong product performance. However, financial stability challenges such as high leverage, negative cash flows, and profitability issues weigh down the overall score. Valuation remains difficult to assess due to negative earnings. The stock benefits from favorable technical indicators, contributing to a moderate overall score.

Positive Factors

Earnings Guidance

Management raised 2025 net sales guidance to $435-$450M, suggesting strong future performance.

Product Expansion

Geographic expansion continues with approval in Japan for ALGS and PFIC.

Sales Performance

MIRM announced results with sales exceeding expectations, driven by both Livmarli and the bile acid portfolio.

Negative Factors

Adverse Events

Diarrhea was the most commonly reported adverse event associated with volixibat.

Competition

Livmarli’s growth continues to be supported by both geographic and label expansion and the IBAT inhibitor is consistently outpacing its only approved competitor.

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

Market Cap

$2.23B

Dividend YieldN/A

Average Volume (3M)450.68K

Price to Earnings (P/E)―

Beta (1Y)0.65

Revenue Growth69.31%

EPS Growth57.12%

CountryUS

Employees334

SectorHealthcare

Sector Strength41

IndustryBiotechnology

Share Statistics

EPS (TTM)-0.30

Shares Outstanding49,534,710

10 Day Avg. Volume468,745

30 Day Avg. Volume450,676

Financial Highlights & Ratios

PEG Ratio-2.22

Price to Book (P/B)9.21

Price to Sales (P/S)0.00

P/FCF Ratio225.90

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

$67.56

Price Target Upside50.10% Upside

Rating ConsensusStrong Buy

Number of Analyst Covering9

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 of its specialized pharmaceutical products designed to treat rare liver diseases. The company focuses on the commercialization of its FDA-approved drugs, which are distributed through various channels including direct sales and partnerships with healthcare providers and institutions. Additionally, Mirum may engage in strategic collaborations and licensing agreements with other pharmaceutical entities to expand its market reach and share resources. These partnerships can also lead to milestone and royalty payments, contributing further to the company's earnings.

Mirum Pharmaceuticals Financial Statement Overview

Summary

Mirum Pharmaceuticals shows strong revenue growth, but profitability issues persist with negative EBIT and net income margins. The balance sheet shows high leverage, raising concerns despite improved cash flow management.

Income Statement

Neutral

Mirum Pharmaceuticals has shown strong revenue growth, increasing from $77.06 million in 2022 to $336.89 million in 2024, representing a substantial growth trajectory. However, the company is currently unprofitable, with negative EBIT and net income margins, indicating that while top-line growth is strong, profitability remains a significant challenge.

Balance Sheet

Negative

The debt-to-equity ratio is relatively high, reflecting a leveraged position with total debt exceeding equity. The equity ratio is low, indicating a reliance on debt financing. The negative stockholders' equity in previous years has improved but remains a concern for financial stability.

Cash Flow

Neutral

Operating cash flow has improved from negative to positive, indicating better cash management. Free cash flow has also turned positive, a favorable sign. However, the previous high cash burn rates still pose risks to financial sustainability if not managed carefully.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
336.89M	186.37M	77.06M	19.14M	0.00
	Gross Profit
255.25M	139.34M	64.69M	17.23M	-623.00K
	EBIT
-87.61M	-109.15M	-131.22M	-173.41M	-104.30M
	EBITDA
-48.97M	-136.49M	-122.41M	-65.39M	-102.31M
	Net Income Common Stockholders
-87.94M	-163.41M	-135.66M	-83.99M	-103.27M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
280.31M	286.33M	251.72M	156.54M	231.82M
	Total Assets
670.75M	646.62M	352.91M	294.65M	240.86M
	Total Debt
317.76M	308.14M	2.19M	2.61M	3.26M
	Net Debt
95.26M	21.82M	-25.82M	-28.73M	-138.82M
	Total Liabilities
445.11M	397.95M	210.87M	174.44M	68.77M
	Stockholders Equity
225.64M	248.67M	-392.82M	120.21M	-173.17M
Cash Flow		Free Cash Flow
9.33M	-91.05M	-120.41M	-151.78M	-89.30M
	Operating Cash Flow
10.32M	-70.94M	-120.14M	-132.76M	-89.08M
	Investing Cash Flow
-90.13M	-107.20M	7.70M	48.55M	37.87M
	Financing Cash Flow
17.70M	336.60M	109.09M	73.47M	181.29M

Mirum Pharmaceuticals Technical Analysis

Technical Analysis Sentiment

Positive

Last Price45.01

Price Trends

50DMA

43.17

Positive

100DMA

45.05

Negative

200DMA

43.16

Positive

Market Momentum

MACD

0.73

Negative

RSI

56.93

Neutral

STOCH

65.85

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 45.01 is above the 20-day moving average (MA) of 42.73, above the 50-day MA of 43.17, and above the 200-day MA of 43.16, indicating a bullish trend. The MACD of 0.73 indicates Negative momentum. The RSI at 56.93 is Neutral, neither overbought nor oversold. The STOCH value of 65.85 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 (52)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCEL	71 Outperform	$2.14B	1,075.44	1.13%	―	14.80%	530.21%
KYMR	54 Neutral	$1.97B	―	-32.17%	―	-25.85%	-23.89%
MIRM	54 Neutral	$2.23B	―	-33.06%	―	69.31%	57.12%
Sector *	52 Neutral	$5.15B	3.02	-44.64%	2.83%	16.44%	-0.47%
BEAM	45 Neutral	$1.80B	―	-38.04%	―	-82.38%	-164.76%
MLTX	41 Neutral	$2.42B	―	-30.57%	―	―	-147.80%
EWTX	40 Underperform	$1.55B	―	-30.29%	―	―	7.97%

* Healthcare Sector Average

Performance Comparison

MIRM

Mirum Pharmaceuticals

45.01

19.71

77.91%

VCEL

Vericel

42.48

-8.65

-16.92%

BEAM

Beam Therapeutics

17.89

-6.95

-27.98%

KYMR

Kymera Therapeutics

30.25

-5.76

-16.00%

MLTX

MoonLake Immunotherapeutics

37.62

-1.04

-2.69%

EWTX

Edgewise Therapeutics

14.78

-3.99

-21.26%

Mirum Pharmaceuticals Earnings Call Summary

Earnings Call Date:May 07, 2025

(Q1-2025)

% Change Since: 9.19%|

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 Corporate Events

Product-Related AnnouncementsFinancial Disclosures

Mirum Pharmaceuticals Surpasses 2024 Sales Guidance

Positive

Jan 13, 2025

Mirum Pharmaceuticals reported preliminary net product sales of approximately $336 million for 2024, surpassing the guidance range. The company projects 2025 global net product sales between $420 million and $435 million, highlighting its growth and leadership in rare diseases with significant advancements in treatments such as volixibat and potential new therapies for conditions like Fragile X Syndrome.

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.