Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Gap Down Following Weak Earnings

Key Points

• Mirum Pharmaceuticals shares fell sharply, opening at $90.25 versus a prior close of $105.79, after the company reported a wider-than-expected quarterly loss of $1.06 per share.
• Revenue reached $176.24 million, beating estimates by about $9.9 million and rising 37.9% year over year; the company also raised its 2026 revenue outlook to $680 million–$700 million.
• Despite the earnings miss, Wall Street’s average rating remains “Moderate Buy”, with a consensus price target of $138.07, although some analysts have reduced targets and insiders have continued selling shares under pre-arranged trading plans.

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $105.79, but opened at $90.25. Mirum Pharmaceuticals shares last traded at $96.1780, with a volume of 727,686 shares changing hands.

The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The company had revenue of $176.24 million during the quarter, compared to analysts' expectations of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The business's revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share.

Key Mirum Pharmaceuticals News

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Mirum reported second-quarter revenue of $176.24 million, above the $166.33 million analyst estimate and up 37.9% year over year. The company also raised its 2026 revenue outlook to $680 million-$700 million, ahead of the $675.1 million consensus estimate. Mirum Pharmaceuticals Reports Q2 Loss, Beats Revenue Estimates
• Positive Sentiment: HC Wainwright lowered its price target from $185 to $140 but maintained a “buy” rating. The new target implies roughly 32% upside from the reference price of $105.79, indicating the firm still sees substantial appreciation potential. HC Wainwright Price Target Update
• Neutral Sentiment: The Q2 earnings call and accompanying metrics review provided additional detail on the quarter’s performance and outlook, with investors likely focused on commercial growth, operating expenses and the path toward profitability. Mirum Pharmaceuticals Q2 2026 Earnings Call Transcript
• Negative Sentiment: Mirum posted a quarterly loss wider than expectations. The company reported a loss of approximately $0.80-$1.06 per share, versus consensus estimates ranging from $0.74 to $0.77, and compared with a $0.12 loss a year earlier. Mirum Q2 Earnings Key Metrics
• Negative Sentiment: SVP Jolanda Howe sold 1,840 shares worth $193,733.60, reducing her direct ownership by 59.09%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal than discretionary insider selling, but it may still attract investor attention. Mirum Pharmaceuticals Insider Sale

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday. TD Cowen raised their target price on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Wall Street Zen cut Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Citigroup reiterated an "outperform" rating on shares of Mirum Pharmaceuticals in a research note on Thursday. Finally, Stifel Nicolaus set a $136.00 price objective on Mirum Pharmaceuticals in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Mirum Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $138.07.

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 20,000 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $122.27, for a total transaction of $2,445,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,309 shares in the company, valued at $23,758,161.43. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 1,840 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $105.29, for a total transaction of $193,733.60. Following the completion of the sale, the senior vice president directly owned 1,274 shares in the company, valued at approximately $134,139.46. The trade was a 59.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 67,155 shares of company stock worth $7,185,662 over the last 90 days. 8.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the fourth quarter worth about $30,000. Eurizon Capital SGR S.p.A. purchased a new position in Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. CIBC Private Wealth Group LLC purchased a new position in Mirum Pharmaceuticals during the fourth quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in Mirum Pharmaceuticals in the third quarter valued at approximately $33,000. Finally, Comerica Bank boosted its position in Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after purchasing an additional 278 shares in the last quarter.

Mirum Pharmaceuticals Trading Down 11.4%

The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 1.28. The company has a 50-day simple moving average of $110.46 and a 200 day simple moving average of $101.77. The firm has a market cap of $5.72 billion, a PE ratio of -6.85 and a beta of 0.52.

About Mirum Pharmaceuticals

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.

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