It has been about a month since the last earnings report for Mirum Pharmaceuticals, Inc. (MIRM). Shares have lost about 3.6% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Mirum Pharmaceuticals due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Mirum's Q4 Earnings Lag, Higher Product Sales Drive Y/Y Revenues
Mirum reported a loss of 11 cents per share in the fourth quarter of 2025 against the Zacks Consensus Estimate of earnings of 2 cents. The company has incurred a loss of 49 cents per share in the year-ago quarter.
Revenues in the fourth quarter totaled $148.9 million, up 50.5% year over year. The figure also beat the Zacks Consensus Estimate of $141 million. The top line was driven by the strong growth of Livmarli and recently acquired bile acid medicines, Cholbam and Ctexli.
Quarter in Detail
During the fourth quarter, the company did not record any license and other revenues.
Research and development expenses increased almost 16.1% year over year to $51.1 million.
Selling, general and administrative expenses totaled $74.1 million, up almost 30.5% from the year-ago quarter’s level.
As of Dec. 31, 2025, Mirum had cash, cash equivalents and investments worth $391.4 million compared with $378 million as of Sept. 30. 2025.
2026 Guidance
Mirum expects worldwide net product sales of approximately $630-$650 million in 2026. The company expects to return to positive cash flow in 2027.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
The consensus estimate has shifted -895.83% due to these changes.
VGM Scores
Currently, Mirum Pharmaceuticals has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Mirum Pharmaceuticals has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Mirum Pharmaceuticals belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Royalty Pharma (RPRX), has gained 3.5% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
Royalty Pharma reported revenues of $874 million in the last reported quarter, representing a year-over-year change of +17.8%. EPS of $1.46 for the same period compares with $1.15 a year ago.
Royalty Pharma is expected to post earnings of $1.18 per share for the current quarter, representing a year-over-year change of +11.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.4%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Royalty Pharma. Also, the stock has a VGM Score of C.
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This article originally published on Zacks Investment Research (zacks.com).