It has been about a month since the last earnings report for Mirum Pharmaceuticals, Inc. (MIRM Quick QuoteMIRM - Free Report) . Shares have added about 6.9% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Mirum Pharmaceuticals due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Mirum's Q2 Earnings Lag Estimates, Revenues Beat, 2026 View Raised

Mirum reported a loss of 80 cents per share (excluding certain one-time expenses) for the second quarter of 2026, wider than the Zacks Consensus Estimate of a loss of 77 cents. The company had reported a loss of 12 cents per share in the year-ago quarter.

Revenues in the second quarter totaled $176.2 million, up 37.9% year over year. The figure also beat the Zacks Consensus Estimate of $165 million. The top line was driven by strong growth of its marketed products, Livmarli and bile acid medicines, Cholbam and Ctexli.

Quarter in Detail

Livmarli’s net product sales were $128.7 million in the second quarter, reflecting an increase of 46% year over year. Livmarli sales in the United States were $92 million, reflecting strong demand across all indications. In ex-U.S. markets, Livmarli sales were $37 million.

Net product sales of bile acid products, comprising Cholbam and Ctexli tablets, were $47.5 million in the quarter, reflecting an increase of 20% year over year.

The company did not record any license and other revenues in the reported quarter.

Research and development expenses increased almost 96.3% year over year to $90.5 million.

Selling, general and administrative expenses totaled $81.5 million, up almost 28.8% from the year-ago quarter’s level.

As of June 30, 2026, Mirum had cash, cash equivalents and investments worth $561.3 million compared with $420.6 million as of March 31, 2026.

2026 Guidance

In view of the strong performance of its marketed products, Mirum raised its revenue guidance for 2026.

The company now expects worldwide net product sales of $680-$700 million in 2026 compared with the previous expectation of $660-$680 million.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a upward trend in estimates revision.

The consensus estimate has shifted 24.32% due to these changes.

VGM Scores

Currently, Mirum Pharmaceuticals has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Charting a somewhat similar path, the stock has a grade of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Mirum Pharmaceuticals has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Mirum Pharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Viking Therapeutics, Inc. (VKTX Quick QuoteVKTX - Free Report) , a stock from the same industry, has gained 2%. The company reported its results for the quarter ended June 2026 more than a month ago.

Viking Therapeutics reported revenues of $0 million in the last reported quarter, representing a year-over-year change of 0%. EPS of -$1.10 for the same period compares with -$0.58 a year ago.

Viking Therapeutics is expected to post a loss of $1.00 per share for the current quarter, representing a year-over-year change of -23.5%. Over the last 30 days, the Zacks Consensus Estimate has changed +1.9%.

Viking Therapeutics has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.