A Look at Mirum Pharmaceuticals's Valuation Following Profit Surge and Raised 2025 Guidance

Mirum Pharmaceuticals (MIRM) just reported a swing to profitability for the third quarter and raised its full-year revenue guidance, highlighting business momentum that has caught investor attention ahead of upcoming clinical data presentations.

See our latest analysis for Mirum Pharmaceuticals.

Mirum’s momentum has really picked up in 2025, thanks to a string of upbeat milestones including its stronger financials, higher revenue outlook, and the spotlight on new clinical data. The share price has responded in kind, surging nearly 70% year-to-date, while the one-year total shareholder return sits at 60.5%, and the three-year total shareholder return is a remarkable 264%. These are clear indicators of building confidence over both the short and long term.

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But with these gains and raised guidance, is there still room for upside in Mirum’s stock price? Or has the market already factored in the company’s future growth potential?

Most Popular Narrative: 17% Undervalued

Mirum Pharmaceuticals’ most widely followed valuation narrative identifies its fair value as significantly above the last close price. This reflects high conviction in upcoming clinical catalysts and strong growth projections. The gap emphasizes the factors driving analyst optimism, particularly as the company approaches a series of trial milestones.

“Multiple late-stage pipeline catalysts, including three pivotal study readouts (VISTAS, VANTAGE, EXPAND) over the next 24 months and the initiation of the Phase II Fragile X study, set the stage for further product label expansions and new indication launches. These developments underpin future revenue diversification and potential earnings acceleration.”

Read the complete narrative.

Want to see what sets this forecast apart? Big revenue leaps, rising margins, and a future profit multiple that rivals even the hottest stocks are all featured. Which key assumptions are fueling this impressive price target? Uncover the precise numbers and the bold blueprint driving the fair value, because the full narrative has details you won’t want to miss.

Result: Fair Value of $86.09 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, risks remain, including Mirum’s heavy reliance on Livmarli and the possibility that trial setbacks or delays could impact future growth expectations.

Find out about the key risks to this Mirum Pharmaceuticals narrative.

Build Your Own Mirum Pharmaceuticals Narrative

If you think there’s more to Mirum’s story, or simply want to dive into the numbers on your own terms, you can build your analysis from scratch in just a few minutes using our platform. Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Mirum Pharmaceuticals.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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