MIRM Stock Forecast & Price Target

Mirum Pharmaceuticals has demonstrated significant financial growth, with Livmarli sales reaching $88.1 million in 2Q25, reflecting an impressive 87% year-over-year increase. As a result of the strong performance, the company has raised its 2025 revenue guidance to between $500 million and $510 million, a notable adjustment from the previous forecast. Additionally, total revenues for 2Q25 amounted to $127.8 million, marking a robust 64% increase compared to the same quarter in the previous year, underscoring the commercial momentum of Livmarli and the increasing adoption in the U.S. market for rare diseases.

Mirum Pharmaceuticals faces significant commercial and competitive risks that contribute to a negative outlook on its stock. The absence of composition of matter patent coverage for its key product, maralixibat, combined with the existence of multiple competing inhibitors in clinical development, raises concerns about potential revenue growth and profitability. Additionally, the company's current reliance on method of use and formulation patents, along with substantial losses from terminated agreements, heightens the volatility and downside risk associated with its financial performance.