Mirum Pharmaceuticals Inc. Common Stock (MIRM)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable earning power, honest accounting, and a price that leaves a margin of safety. Mirum does not yet fit that mold. At the 2026-10-13 close of $79.62, the market values it at $5.2B. FairStock calculates a negative P/E of -5.65, a P/B of 16.86, ROE of -702.97%, ROCE of -6.79%, FCF yield of -5.1%, Altman Z-Score of 1.46, Piotroski F-Score of 4/9, and a FairStock Score of 39/100. Those are not comforting Graham numbers. Filed figures show real commercial traction: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $176.2M, up from $127.8M in fiscal Q2 2025, the quarter ended 2025-06-30, while net loss was $67.2M and diluted EPS was -$1.06. In fiscal Q1 2026, the quarter ended 2026-03-31, net loss was $790.2M, or -$13.43 per diluted share. For FY2025, period ended 2025-12-31, revenue was $521.3M and net loss was $23.4M; FY2024 revenue was $336.9M with an $87.9M loss; FY2023 revenue was $186.4M with a $163.4M loss. The top line is growing, but profits and free cash flow are not. TTM free cash flow is -$263.7M, and debt-to-equity is 1.34. The rare-disease focus may help, but I cannot call it a proven moat until it produces consistent owner earnings. The Lynch category is none because the company has lost money in each of the last four years. This is a speculative launch story, not a value investment with a margin of safety.

In plain English: Mirum is a rare-disease drug company whose approved medicine treats itching in Alagille syndrome. Sales are growing, but it keeps losing money and burning cash, and one recent quarter had a very large loss. At the 2026-10-13 price near $80, the stock looks expensive compared with current profits and accounting value, so it mainly depends on future profits that have not arrived yet.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer