Mirum Pharmaceuticals (NASDAQ:MIRM) Announces Earnings Results

Key Points

• Mirum reported a quarterly loss of $0.87 per share, missing analyst expectations for a $0.49 loss by $0.38; its net margin and return on equity were also negative.
• The stock rose $1.33 to $87.08 on Tuesday. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $148.19.
• Company insiders sold 96,659 shares worth about $9.6 million over the past three months; insider ownership was 8.32%.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.38), Zacks reports. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM traded up $1.33 on Tuesday, hitting $87.08. The company's stock had a trading volume of 432,925 shares, compared to its average volume of 836,218. Mirum Pharmaceuticals has a one year low of $63.23 and a one year high of $130.00. The firm has a market capitalization of $5.65 billion, a P/E ratio of -5.98 and a beta of 0.61. The stock has a fifty day moving average of $89.72 and a two-hundred day moving average of $98.44. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28.

Analyst Upgrades and Downgrades

MIRM has been the subject of several analyst reports. TD Cowen raised their target price on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, October 21st. UBS Group set a $137.00 target price on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. Citigroup upped their price target on shares of Mirum Pharmaceuticals from $160.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Evercore reiterated an "outperform" rating and issued a $146.00 price target on shares of Mirum Pharmaceuticals in a research note on Tuesday, October 13th. Finally, Weiss Ratings cut shares of Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $148.19.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 40,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $100.00, for a total value of $4,000,000.00. Following the transaction, the senior vice president directly owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Peetz sold 30,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were 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 owned 194,440 shares in the company, valued at approximately $19,187,339.20. This represents a 13.37% 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. In the last three months, insiders sold 96,659 shares of company stock worth $9,604,100. 8.32% of the stock is owned by company insiders.

About Mirum Pharmaceuticals

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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