Mirum Pharmaceuticals, Inc.

NasdaqGM:MIRM Stock Report

Market Cap: US$2.1b

Mirum Pharmaceuticals Valuation

Is MIRM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MIRM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MIRM ($43.48) is trading below our estimate of fair value ($274.19)

Significantly Below Fair Value: MIRM is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for MIRM?

Key metric: As MIRM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MIRM. This is calculated by dividing MIRM's market cap by their current revenue.
What is MIRM's PS Ratio?
PS Ratio6.8x
SalesUS$307.03m
Market CapUS$2.10b

Price to Sales Ratio vs Peers

How does MIRM's PS Ratio compare to its peers?

The above table shows the PS ratio for MIRM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.8x
BEAM Beam Therapeutics
5.4x-11.9%US$1.9b
PTGX Protagonist Therapeutics
7.7x-9.3%US$2.4b
ALVO Alvotech
9.5x34.6%US$3.7b
APLS Apellis Pharmaceuticals
4.8x17.9%US$3.4b
MIRM Mirum Pharmaceuticals
6.8x24.3%US$2.1b

Price-To-Sales vs Peers: MIRM is good value based on its Price-To-Sales Ratio (6.8x) compared to the peer average (6.8x).


Price to Sales Ratio vs Industry

How does MIRM's PS Ratio compare vs other companies in the US Biotechs Industry?

131 CompaniesPrice / SalesEstimated GrowthMarket Cap
GILD Gilead Sciences
4x2.4%US$110.46b
BIIB Biogen
2.4x1.3%US$22.73b
MRNA Moderna
2.9x6.8%US$14.22b
INCY Incyte
3.3x8.9%US$13.69b
MIRM 6.8xIndustry Avg. 9.6xNo. of Companies131PS01632486480+
131 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MIRM is good value based on its Price-To-Sales Ratio (6.8x) compared to the US Biotechs industry average (10.1x).


Price to Sales Ratio vs Fair Ratio

What is MIRM's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MIRM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.8x
Fair PS Ratio7.5x

Price-To-Sales vs Fair Ratio: MIRM is good value based on its Price-To-Sales Ratio (6.8x) compared to the estimated Fair Price-To-Sales Ratio (7.5x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MIRM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.48
US$62.55
+43.8%
12.6%US$73.00US$50.00n/a11
Nov ’25US$40.40
US$59.45
+47.2%
17.2%US$71.00US$39.00n/a11
Oct ’25US$40.12
US$59.27
+47.7%
17.6%US$71.00US$39.00n/a11
Sep ’25US$43.11
US$59.27
+37.5%
17.6%US$71.00US$39.00n/a11
Aug ’25US$40.13
US$57.18
+42.5%
19.7%US$71.00US$39.00n/a11
Jul ’25US$34.16
US$57.09
+67.1%
19.6%US$71.00US$39.00n/a11
Jun ’25US$24.03
US$48.00
+99.8%
22.2%US$66.00US$31.00n/a11
May ’25US$25.72
US$48.91
+90.2%
24.9%US$72.00US$33.00n/a11
Apr ’25US$25.45
US$49.00
+92.5%
26.0%US$72.00US$33.00n/a10
Mar ’25US$29.27
US$47.20
+61.3%
25.3%US$69.00US$33.00n/a10
Feb ’25US$26.59
US$48.10
+80.9%
25.6%US$64.00US$33.00n/a10
Jan ’25US$29.52
US$48.30
+63.6%
25.4%US$64.00US$33.00n/a10
Dec ’24US$32.00
US$54.70
+70.9%
25.5%US$78.00US$37.00n/a10
Nov ’24US$28.42
US$57.71
+103.1%
22.7%US$77.00US$38.00US$40.407
Oct ’24US$31.60
US$59.20
+87.3%
29.9%US$84.00US$35.00US$40.125
Sep ’24US$26.44
US$56.50
+113.7%
33.3%US$84.00US$35.00US$43.114
Aug ’24US$24.97
US$56.25
+125.3%
31.9%US$82.00US$35.00US$40.134
Jul ’24US$25.87
US$54.43
+110.4%
33.5%US$81.00US$34.00US$34.167
Jun ’24US$26.11
US$51.38
+96.8%
36.7%US$81.00US$30.00US$24.038
May ’24US$26.99
US$51.38
+90.3%
36.7%US$81.00US$30.00US$25.728
Apr ’24US$24.02
US$51.63
+114.9%
37.3%US$83.00US$30.00US$25.458
Mar ’24US$23.70
US$51.88
+118.9%
37.4%US$84.00US$30.00US$29.278
Feb ’24US$23.88
US$52.88
+121.4%
37.9%US$84.00US$30.00US$26.598
Jan ’24US$19.50
US$54.75
+180.8%
36.9%US$88.00US$30.00US$29.528
Dec ’23US$18.28
US$55.88
+205.7%
36.7%US$88.00US$30.00US$32.008
Nov ’23US$23.09
US$56.63
+145.2%
35.1%US$88.00US$31.00US$28.428

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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