Mirum Pharmaceuticals (NASDAQ:MIRM) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Mirum Pharmaceuticals to “Sell” from “Hold,” though broader analyst sentiment remains a “Moderate Buy” with an average price target of $137.31.
• Mirum reported quarterly revenue of $176.24 million, above expectations and up 37.9% year over year, but its loss of $1.06 per share was wider than the estimated $0.74 loss.
• Shares opened at $100.90, while insiders sold 133,814 shares worth approximately $13.9 million over the past three months, including sales by the CEO and CFO under pre-arranged trading plans.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other research firms have also issued reports on MIRM. CLSA set a $146.00 price objective on shares of Mirum Pharmaceuticals in a research note on Monday, June 15th. Morgan Stanley set a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 6th. Weiss Ratings raised shares of Mirum Pharmaceuticals from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Citigroup reaffirmed a "market outperform" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada cut their price objective on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.31.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM opened at $100.90 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 12-month low of $63.23 and a 12-month high of $130.00. The stock has a market cap of $6.55 billion, a P/E ratio of -6.93 and a beta of 0.49. The company has a 50-day moving average of $109.09 and a two-hundred day moving average of $101.73.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). The company had revenue of $176.24 million for the quarter, compared to analysts' expectations of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. The business's quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) earnings per share. As a group, research analysts predict that Mirum Pharmaceuticals will post -1.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christopher Peetz sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the completion of the transaction, the chief executive officer directly owned 194,440 shares in the company, valued at approximately $19,187,339.20. This represents a 13.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares of the company's stock, valued at $3,631,864.50. The trade was a 14.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 133,814 shares of company stock worth $13,914,562. 8.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth about $30,000. Eurizon Capital SGR S.p.A. acquired a new position in Mirum Pharmaceuticals in the fourth quarter worth about $32,000. CIBC Private Wealth Group LLC bought a new stake in Mirum Pharmaceuticals in the fourth quarter valued at about $32,000. Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals in the third quarter valued at about $33,000. Finally, Comerica Bank raised its stake in Mirum Pharmaceuticals by 45.1% during the first quarter. Comerica Bank now owns 895 shares of the company's stock valued at $40,000 after buying an additional 278 shares in the last quarter.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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