MIRM Stock Forecast & Price Target

Mirum Pharmaceuticals Inc has demonstrated significant financial growth, with 2Q25 sales of Livmarli reaching $88.1 million, reflecting an impressive 87% year-over-year increase compared to 2Q24. The company has positively adjusted its 2025 revenue guidance to a range of $490 million to $510 million, increasing the midpoint estimate by approximately $57.5 million based on robust sales performance. Additionally, total revenues for 2Q25 amounted to $127.8 million, marking a 64% year-over-year growth from $77.9 million in 2Q24, underscoring the company's strong market traction in the rare disease therapeutic space.

Mirum Pharmaceuticals faces significant commercial and competitive risks that contribute to a negative outlook. The company lacks strong patent protection for its key product, maralixibat, relying solely on method of use and formulation patents, which may expose it to competition from other ASBT inhibitors under development. Additionally, with its revenues still in the early growth stage, coupled with the potential for slower than anticipated sales growth and the recent financial loss from a terminated revenue interest purchase agreement, the path to profitability appears increasingly uncertain.