Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is broadly positive: Fifteen brokerages rate Mirum Pharmaceuticals a “Moderate Buy,” with 13 buys, one strong buy, and one sell. The average 12-month price target is $147.88.
• Revenue exceeded expectations, but losses widened: Quarterly revenue rose 37.9% year over year to $176.24 million, surpassing estimates, while EPS came in at a loss of $1.06 versus the expected $0.74 loss.
• Insiders have been selling shares: Executives sold 98,499 shares worth approximately $9.8 million over the past three months under pre-arranged Rule 10b5-1 trading plans; insiders retain an 8.32% ownership stake.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $147.88.

MIRM has been the topic of several recent analyst reports. Wall Street Zen lowered Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, September 6th. HC Wainwright raised their price target on Mirum Pharmaceuticals from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, October 12th. Evercore restated an "outperform" rating and set a $146.00 price target on shares of Mirum Pharmaceuticals in a research note on Tuesday, October 13th. Citigroup boosted their price target on Mirum Pharmaceuticals from $160.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Finally, Citizens Jmp restated a "market outperform" rating and set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th.

Insider Buying and Selling

In related news, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business's 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 sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,499 shares of company stock worth $9,797,834 in the last three months. Corporate insiders own 8.32% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of large investors have recently made changes to their positions in MIRM. Secure Asset Management LLC acquired a new stake in shares of Mirum Pharmaceuticals during the third quarter worth about $4,466,000. Contravisory Investment Management Inc. boosted its position in Mirum Pharmaceuticals by 10.2% in the third quarter. Contravisory Investment Management Inc. now owns 5,074 shares of the company's stock valued at $434,000 after buying an additional 470 shares during the last quarter. Juncture Wealth Strategies LLC boosted its position in Mirum Pharmaceuticals by 10.7% in the third quarter. Juncture Wealth Strategies LLC now owns 5,330 shares of the company's stock valued at $456,000 after buying an additional 515 shares during the last quarter. Engineers Gate Manager LP boosted its position in Mirum Pharmaceuticals by 218.2% in the second quarter. Engineers Gate Manager LP now owns 8,143 shares of the company's stock valued at $953,000 after buying an additional 5,584 shares during the last quarter. Finally, Insight Wealth Partners LLC acquired a new position in Mirum Pharmaceuticals in the 2nd quarter worth approximately $395,000.

Mirum Pharmaceuticals Stock Performance

Shares of MIRM stock opened at $85.07 on Wednesday. The business's fifty day simple moving average is $92.46 and its 200-day simple moving average is $100.58. The company has a market cap of $5.52 billion, a PE ratio of -5.85 and a beta of 0.61. 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.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $166.33 million. During the same period in the previous year, the business earned ($0.12) EPS. The firm's revenue for the quarter was up 37.9% compared to the same quarter last year. Analysts expect that Mirum Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company's medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum's lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.

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