Mar. 15 at 5:21 PM
Attached is a graph that compares actual FY25 revenues & 5-year (FY26 - FY30) analyst consensus revenue estimates of
$MIRM $TARS &
$TVTX
The raw data used to compile the graph is provided at the bottom right.
Note analysts project TARS & TVTX to generate virtually identical revenues by year & cumulatively over the next 5 years as MIRM yet both trade at sharply lower market caps. Both TARS & TVTX also generated higher gross profit margins (by 7 & 13%) on FY25 revenues v MIRM.
The objective of this post is to identify the disconnect in revenue multiples of TARS & TVTX. This is in no way to bash MIRM. MIRM just posted a very respectable Q425 beat.
TVTX has a meaningful 4/13/26 inflection point via Filspari PDUFA for FSGS. There is evidence that suggests a 2nd PDUFA extension is possible.
We're genuinely curious if there's any other data driven reason for the disconnect in multiples. This is not investment advice. There may be very good reason.
$XBI $IBB