Wall Street Zen Upgrades Mirum Pharmaceuticals (NASDAQ:MIRM) to Hold

Key Points

• Wall Street Zen upgraded Mirum Pharmaceuticals from “sell” to “hold,” while broader analyst sentiment remains positive with a consensus “Moderate Buy” rating and an average price target of $137.31.
• Mirum reported quarterly revenue of $176.24 million, ahead of estimates and up 37.9% year over year, but its adjusted loss of $1.06 per share missed expectations of $0.74.
• Company insiders sold approximately $13.8 million worth of shares over the past 90 days, including recent sales by the CEO and CFO under pre-arranged Rule 10b5-1 trading plans.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently weighed in on MIRM. UBS Group set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday. Raymond James Financial reissued a "strong-buy" rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Royal Bank Of Canada cut their price target on Mirum Pharmaceuticals from $148.00 to $135.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Morgan Stanley set a $137.00 price objective on Mirum Pharmaceuticals in a research report on Thursday, August 6th. Finally, CLSA set a $146.00 price objective on Mirum Pharmaceuticals in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.31.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $97.46 on Friday. 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 $6.33 billion, a PE ratio of -6.70 and a beta of 0.52. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. The company's fifty day moving average price is $110.63 and its 200-day moving average price is $101.79.

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

Insider Activity at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 20,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $98.92, for a total value of $1,978,400.00. Following the transaction, the chief executive officer directly owned 194,309 shares of the company's stock, valued at approximately $19,221,046.28. This represents a 9.33% decrease in their position. The transaction was disclosed in a legal 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 stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer owned 36,355 shares in the company, valued at approximately $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. 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. Insiders sold 133,156 shares of company stock valued at $13,763,562 over the last 90 days. Corporate insiders own 8.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. increased its holdings in Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company's stock worth $539,000 after buying an additional 103 shares in the last quarter. ABS Investment Management LLC bought a new position in Mirum Pharmaceuticals during the 2nd quarter valued at about $245,847,000. Faithward Advisors LLC boosted its holdings in shares of Mirum Pharmaceuticals by 0.5% during the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company's stock valued at $2,537,000 after acquiring an additional 126 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock valued at $253,000 after acquiring an additional 200 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after acquiring an additional 278 shares during the period.

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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