Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Mirum Pharmaceuticals has received an average rating of "Buy" from twelve analysts, with a 12-month price target averaging at $76.50.
• The company recently reported a quarterly revenue of $127.79 million, significantly beating analyst expectations and marking a 64.1% year-over-year growth.
• Insider trading activity has seen significant sales, including a 51.98% decrease in shares owned by Director Laura Brege after selling 17,000 shares for around $1.26 million.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has been given an average rating of "Buy" by the twelve ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $76.50.

Several research firms have commented on MIRM. JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a report on Wednesday. Cowen began coverage on Mirum Pharmaceuticals in a report on Wednesday, September 24th. They issued a "buy" rating on the stock. Finally, HC Wainwright boosted their target price on Mirum Pharmaceuticals from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 7th.

Mirum Pharmaceuticals Trading Down 1.5%

NASDAQ MIRM opened at $72.71 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. Mirum Pharmaceuticals has a twelve month low of $36.88 and a twelve month high of $78.54. The firm has a market capitalization of $3.65 billion, a PE ratio of -60.09 and a beta of 0.81. The stock's 50 day moving average is $70.73 and its 200 day moving average is $54.72.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The company had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. During the same period in the previous year, the company posted ($0.52) earnings per share. The firm's revenue was up 64.1% on a year-over-year basis. Research analysts forecast that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $74.40, for a total value of $1,264,800.00. Following the sale, the director directly owned 15,703 shares of the company's stock, valued at approximately $1,168,303.20. The trade was a 51.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $62.00, for a total value of $2,480,000.00. Following the completion of the sale, the chief executive officer directly owned 138,641 shares in the company, valued at $8,595,742. This trade represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,578 shares of company stock valued at $7,262,824. 14.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MIRM. CWM LLC lifted its holdings in shares of Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after purchasing an additional 428 shares in the last quarter. Comerica Bank lifted its holdings in shares of 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 purchasing an additional 278 shares in the last quarter. Quarry LP bought a new position in shares of Mirum Pharmaceuticals during the first quarter valued at $56,000. Osaic Holdings Inc. lifted its holdings in shares of Mirum Pharmaceuticals by 46.5% during the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock valued at $56,000 after purchasing an additional 351 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Mirum Pharmaceuticals during the first quarter valued at $89,000.

About Mirum Pharmaceuticals

Mirum Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases. Its lead product candidate is LIVMARLI (maralixibat), an orally administered and minimally absorbed ileal bile acid transporter (IBAT) inhibitor that is approved for the treatment of cholestatic pruritus in patients with Alagille syndrome in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.