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Mirum Pharmaceuticals, Inc. (MIRM)

Fair Value
HealthcareBiotechnologyUnited States

Fundamental

26

Price

$80.39

Market Cap

$5.42B

Part 1 · What the company is worth

Overview

Mirum Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally. The company is also involved in the commercialization of Cholbam, a cholic acid capsule, which is approved as treatment for pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for adjunctive treatment of patients with peroxisomal disorders, including peroxisome biogenesis disorder-Zellweger spectrum disorder and Smith-Lemli-Opitz syndrome; and Chenodal, a tablet, which is approved for the treatment of radiolucent stones in the gallbladder, and under development for the treatment cerebrotendinous xanthomatosis. In addition, it develops Volixibat, an oral and minimally absorbed agent designed to inhibit IBAT, currently under Phase 2b clinical trial for the treatment of adult patients with cholestatic liver diseases; Brelovitug, for the treatment of chronic HDV infection, which is in Phase 2 clinical trial; and MRM-3379, that is in Phase 2 clinical study for the treatment of FXS. The company has a collaboration agreement with the Shire International GmbH; License Agreement with Pfizer Inc.; Sanofi-Aventis Deutschland GmbH; Novartis Pharma AG; Lonza Ltd.; Enthorin Therapeutics, LLC and Dart Neuroscience LLC; Asset Purchase Agreement with Asklepion Pharmaceuticals, LLC; License and Manufacturing Agreement with LGM Pharma; and Asset Purchase Agreement with Travere Therapeutics, Inc. The company was incorporated in 2018 and is headquartered in Foster City, California.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$618M

Trailing 12 months (through 6/30/2026)

Net Income

$-860M

Trailing 12 months (through 6/30/2026)

Free Cash Flow

$55M

Total Equity

$315M

Total Liabilities

$528M

Current Ratio

2.86

Interest Coverage

62.06

Debt/EBITDA

361.93

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseFairly Valued

Fair Value

$95.95

Current Price

$80.39

Margin of Safety

+16.2%

Fair Value Range

$62.37 - $129.53

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$153.43
Discounted cash flow (DCF):$19.31
Earnings multiple (P/E):Not enough data to compute it
Graham growth formula:Not enough data to compute it
Earnings power value (EPV):Not enough data to compute it
Justified P/B:Not enough data to compute it
Dividend discount (Gordon):Not enough data to compute it
P/FFO, funds from operations:$0.22
Mid-cycle earnings:Not enough data to compute it
Revenue multiple:$36.85
Last Earnings Surprise:-52.65%

Valuation Metrics

P/E Ratio

-

ROE

-7.4%

P/B Ratio

17.22

P/FCF

98.74

Gross Margin

-

ROIC

-80.1%

Profitability Radar

Value Creation (Economic Moat)

ROIC

-80.1%

WACC

7.8%

ROIC − WACC

-87.9 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Fundamental Analysis Criteria

Passed (6)

  • EPS shows upward trend
  • Price CAGR 20.28%
  • Debt/equity ratio
  • Current ratio
  • Interest coverage
  • Piotroski F-Score 5/9

Failed (13)

  • ROIC -80.1%
  • P/FCF 98.74
  • P/B ratio 17.22
  • Operating margin -134.9%
  • Positive free cash flow
  • Debt/EBITDA
  • Return on tangible assets
  • Low reliance on intangibles
  • DCF valuation (Overvalued)
  • ROE -289.3%
  • Earnings surprise, average -113.4%
  • Share dilution 4.6%
  • Net margin trend -139.2% vs -13.6%

Unavailable (7)

  • Gross margin –
  • Dividend payout –
  • CapEx intensity
  • Price below Graham Number
  • Revenue growth 5Y
  • PEG ratio (needs P/E > 0 and growth > 0)
  • Earnings quality (operating cash flow / net income)

Piotroski F-Score

5/9

Mixed signals: some areas need attention

ROA > 0
Operating cash flow > 0
ΔROA > 0
Cash flow > net income
Leverage ↓
Current ratio ↑
No dilution
Gross margin ↑
Asset turnover ↑

Earnings Quality

-

Low quality: investigate accounting

Share Dilution

4.6%

Issuing new shares, diluting ownership

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. Christopher PeetzCEO & Director46
Mr. Peter Radovich M.B.A., Ph.D.COO & President47
Mr. Eric H. Bjerkholt M.B.A., M.S.Chief Financial Officer65
Dr. Joanne M. J. Quan M.D.Chief Medical Officer61
Dr. Jean-Luc Girardet Ph.D.Chief Technical Officer-
Mr. Andrew McKibbenSenior Vice President, Strategic Finance & Investor Relations-
Mr. Douglas T. Sheehy J.D.Chief Legal Officer & Secretary58
Meredith KiernanSenior Director of Global Corporate Communications-
Ms. Erin CampanyChief People Officer57
Ms. Lara Longpre MBA, MSCChief Development Officer55

Audit Risk

6

Board Risk

10

Compensation Risk

7

Shareholder Rights Risk

8

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-25

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-08-05

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-10-13

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Part 2 · The price and its context

This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Market Reaction Profile

How much MIRM moves, measured on its daily prices.

VolatilityMedium

More volatile than 71% of the tracked stocks (90-day volatility).

Volatility 30d
46.0%
Volatility 90d
47.5%
Beta vs S&P 500 (1y)
1.03Correlation 0.28
Max drawdown (12m)
-38.4%
ATR (14d, % of price)
4.68%

Earnings reactions

How MIRM moved around its past quarterly results.

Next earnings release

Nov 4, 2026 · In 11 days · Time not known

EPS estimate: -0.41Revenue estimate: $178M

What usually happens

  • Over the last 12 releases the stock moved a median of 6.1% the next day, up or down.
  • Next-day moves: up 6, down 6 (out of 12).

Release history

DateWhen EPS est.EPS actualSurprise Gap 1 day5 days
Aug 5, 2026After the close-0.69-1.06-52.6% -14.7% -11.0% -6.4%
May 6, 2026After the close-0.36-1.08-199.7% 0.0% -6.5% -0.8%
Feb 25, 2026After the close0.04-0.10-330.9% -11.1% -15.1% -14.3%
Nov 4, 2025After the close-0.170.05+129.8% +3.5% -1.2% +0.5%
Aug 6, 2025After the closen/an/an/a+3.5% +12.0% +22.0%
May 7, 2025After the closen/an/an/a-3.0% +9.8% +7.7%
Feb 26, 2025After the closen/an/an/a-3.0% -7.0% -11.6%
Nov 12, 2024During the sessionn/an/an/a+5.7% +1.6% -0.5%
Aug 7, 2024After the closen/an/an/a0.0% +2.3% +6.5%
May 8, 2024After the closen/an/an/a+2.6% +3.2% -0.2%
Feb 28, 2024After the closen/an/an/a-1.0% -0.6% -1.7%
Nov 2, 2023After the closen/an/an/a+5.3% +5.7% +0.3%

Release dates from SEC 8-K filings.

Updated 10/24/2026

Historical statistics for educational purposes only. They are not forecasts and not investment advice.

Price reaction to the news

Latest news on MIRM and what the price did next.

Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.

Latest News

Recent headlines for MIRM.

  • 2/26/2026POSITIVE
    13 Analysts Have This To Say About Mirum Pharmaceuticals

    Markets Gazette notes a strong positive consensus among analysts for Mirum Pharmaceuticals (MIRM). Recent evaluations from prominent investment firms such as Raymond James and SVB Leerink have reiterated 'Strong Buy' and 'Outperform' ratings. This persistent optimism, maintained even in recent reviews, signals solid confidence in the pharmaceutical company's future prospects. For investors, the continuation of such high ratings suggests that the market anticipates robust performance and significant growth potential for MIRM stock, despite broader market dynamics. The analysis generally agrees that Mirum Pharmaceuticals possesses strong fundamentals or upcoming catalysts that warrant a favorable portfolio position.

  • 2/25/2026NEUTRAL
    Mirum (MIRM) Q4 2025 Earnings Call Transcript

    Mirum Pharmaceuticals (MIRM) held its Q4 2025 earnings call. While the specific details of the transcript are not yet available, this event marks a crucial moment for investors awaiting updates on the company's financial performance. Earnings calls are fundamental for understanding a company's operational health, future projections, and growth strategies. Analysts and shareholders will closely monitor key data points such as revenue, earnings per share, and guidance for the upcoming fiscal year once the transcript is released. The absence of immediate content means the market remains in a holding pattern, awaiting concrete information that could influence the stock's valuation.