Is Mirum Pharmaceuticals, Inc. overvalued or undervalued?

As of 5 August 2021, the valuation grade for Mirum Pharmaceuticals, Inc. moved from does not qualify to risky. Based on the available metrics, the company appears to be overvalued. Key ratios include a Price to Book Value of 9.85, an EV to Sales ratio of 6.14, and a ROE of -33.16%. In comparison to peers, TG Therapeutics, Inc. has a P/E of 83.91, while Catalyst Pharmaceuticals, Inc. shows a much more attractive P/E of 12.14, highlighting the relative overvaluation of Mirum.
Despite the overvaluation, Mirum has shown strong stock performance, with a year-to-date return of 82.15%, significantly outperforming the S&P 500's 12.22% return in the same period. However, the negative profitability metrics and high valuation ratios suggest caution for potential investors.