Mirum Sees 50.5% Q4 Revenue Surge, RBC Targets $128 Price
Mirum Pharmaceuticals reported Q4 revenues of $148.9 million, up 50.5% year over year, driven by Livmarli and bile acid drugs alongside a loss per share of $0.11. RBC Capital set a $128 price target, implying a potential 36% upside from current levels.
1. Q4 Financial Results
Mirum posted fourth-quarter revenues of $148.9 million, marking a 50.5% increase year over year, fueled by sales of Livmarli and acquired bile acid therapies. The company recorded a net loss of $0.11 per share, while research and development expenses rose 16.1% to $51.1 million and SG&A climbed 30.5% to $74.1 million.
2. Analyst Price Target
RBC Capital assigned a $128 price target to Mirum shares, reflecting confidence in sustained product sales growth and forecasting roughly 36% upside. The bullish outlook underscores expectations for continued market adoption of Livmarli and bile acid drug revenue expansion.
3. Outlook and Pipeline
Mirum expects 2026 net product sales between $630 million and $650 million and aims to return to positive cash flow in 2027. Key pipeline milestones include top-line data from the phase III EXPAND Livmarli study in Q4 2026, phase IIb results for volixibat studies in mid-2026, and brelovitug phase III data in the second half of 2026.