Citizens Jmp Reiterates Market Outperform Rating for Mirum Pharmaceuticals (NASDAQ:MIRM)

Key Points

• Citizens Jmp reiterated a "market outperform" rating on Mirum with a $132 price target, implying roughly a 39.7% upside; MarketBeat's consensus target is $117.67 and the stock has an overall "Moderate Buy" rating.
• Mirum reported quarterly revenue of $148.93M (up 49.8% YoY) beating estimates but missed on EPS (loss of $0.11 vs. $0.02 expected); the stock traded at $94.47 (down 1.3%) and the company remains unprofitable with negative margins.
• Insider selling was significant last quarter—115,031 shares sold worth $10.79M—although corporate insiders still hold 22.87% of the company.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report)'s stock had its "market outperform" rating restated by stock analysts at Citizens Jmp in a research report issued on Tuesday,Benzinga reports. They presently have a $132.00 target price on the stock. Citizens Jmp's price objective suggests a potential upside of 39.73% from the company's previous close.

A number of other equities research analysts have also issued reports on MIRM. TD Cowen increased their target price on Mirum Pharmaceuticals from $117.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, March 27th. Evercore set a $126.00 price objective on Mirum Pharmaceuticals in a research note on Wednesday, March 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, January 22nd. Leerink Partners lowered their price objective on Mirum Pharmaceuticals from $120.00 to $118.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Finally, Wall Street Zen lowered Mirum Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $117.67.

Mirum Pharmaceuticals Stock Down 1.3%

Shares of MIRM stock traded down $1.25 during trading hours on Tuesday, reaching $94.47. The company had a trading volume of 41,067 shares, compared to its average volume of 826,898. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67. Mirum Pharmaceuticals has a twelve month low of $38.33 and a twelve month high of $109.28. The company has a market capitalization of $5.70 billion, a P/E ratio of -196.14 and a beta of 0.51. The stock's fifty day simple moving average is $95.25 and its 200 day simple moving average is $84.23.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.13). Mirum Pharmaceuticals had a negative net margin of 4.48% and a negative return on equity of 8.53%. The company had revenue of $148.93 million during the quarter, compared to analyst estimates of $141.78 million. During the same quarter last year, the business posted $1.00 EPS. Mirum Pharmaceuticals's quarterly revenue was up 49.8% compared to the same quarter last year. As a group, sell-side analysts expect that Mirum Pharmaceuticals will post -1.77 earnings per share for the current fiscal year.

Insider Activity

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 4,732 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $435,249.36. Following the completion of the sale, the senior vice president owned 8,429 shares in the company, valued at $775,299.42. This trade represents a 35.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Bjerkholt sold 7,287 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the chief financial officer owned 49,788 shares of the company's stock, valued at approximately $4,579,500.24. This trade represents a 12.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,031 shares of company stock worth $10,792,789 over the last quarter. Corporate insiders own 22.87% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Faithward Advisors LLC lifted its holdings in Mirum Pharmaceuticals by 0.5% during the 1st quarter. Faithward Advisors LLC now owns 27,467 shares of the company's stock worth $2,537,000 after buying an additional 126 shares during the last quarter. CWM LLC lifted its holdings in Mirum Pharmaceuticals by 30.8% during the 3rd quarter. CWM LLC now owns 683 shares of the company's stock worth $50,000 after buying an additional 161 shares during the last quarter. MCF Advisors LLC lifted its holdings in Mirum Pharmaceuticals by 76.4% during the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company's stock worth $31,000 after buying an additional 185 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Mirum Pharmaceuticals by 6.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,200 shares of the company's stock worth $253,000 after buying an additional 200 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Mirum Pharmaceuticals by 34.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 957 shares of the company's stock worth $70,000 after buying an additional 243 shares during 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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