MIRM Stock Forecast & Price Target

Mirum Pharmaceuticals has demonstrated significant revenue growth, with 2Q25 total revenues reaching $127.8 million, marking a 64% increase year-over-year from $77.9 million in 2Q24. The company attributed strong growth primarily to LIVMARLI, which recorded sales of $88.1 million in 2Q25, reflecting an impressive 87% increase compared to the same quarter last year. Additionally, management raised the 2025 revenue guidance to a range of $490 million to $510 million, up from the prior estimate of $435 million to $450 million, highlighting a positive financial trajectory for the company.

Mirum Pharmaceuticals faces significant fundamental challenges that contribute to a negative outlook on its stock. The company lacks composition of matter patent protection for its key product, maralixibat, relying instead on method of use and formulation patents, which could expose it to competition and hinder growth. Additionally, Mirum's revenue is at an early growth stage, and potential competitive pressures from other ASBT inhibitors in development, combined with the high volatility inherent in biotech investments, pose substantial risks to achieving its profitability goals.