Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Mirum Pharmaceuticals, Inc. has received a consensus recommendation of "Buy" from eight brokerages, with an average 12-month target price of $74.13.
• Insider activity shows significant stock sales, with CEO Christopher Peetz selling 40,000 shares for approximately $2.48 million, representing a 22.39% decrease in his ownership.
• The company reported a 64.1% increase in revenue year-over-year, totaling $127.79 million for the last quarter, easily surpassing analyst estimates.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has been given an average rating of "Buy" by the eight research firms that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $74.1250.

MIRM has been the topic of several recent analyst reports. Stifel Nicolaus set a $89.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "buy" rating in a research report on Monday, August 11th. Evercore ISI raised their price objective on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. JMP Securities set a $81.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Raymond James Financial restated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Finally, HC Wainwright raised their price objective on shares of Mirum Pharmaceuticals from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 7th.

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 10,000 shares of Mirum Pharmaceuticals stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $58.00, for a total value of $580,000.00. Following the sale, the senior vice president directly owned 2,426 shares in the company, valued at approximately $140,708. The trade was a 80.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Peetz sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the sale, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,041 shares of company stock worth $5,320,624. 14.36% of the stock is currently owned by insiders.

Institutional Trading of Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in Mirum Pharmaceuticals by 389.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,788 shares of the company's stock valued at $244,000 after acquiring an additional 3,810 shares during the last quarter. Soleus Capital Management L.P. bought a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at $15,201,000. Eventide Asset Management LLC increased its holdings in Mirum Pharmaceuticals by 4.4% in the 2nd quarter. Eventide Asset Management LLC now owns 2,637,485 shares of the company's stock valued at $134,224,000 after acquiring an additional 110,485 shares during the last quarter. Boone Capital Management LLC grew its stake in shares of Mirum Pharmaceuticals by 6.3% in the 2nd quarter. Boone Capital Management LLC now owns 641,448 shares of the company's stock worth $32,643,000 after buying an additional 38,130 shares in the last quarter. Finally, PDT Partners LLC increased its holdings in shares of Mirum Pharmaceuticals by 5.7% in the 2nd quarter. PDT Partners LLC now owns 145,379 shares of the company's stock worth $7,398,000 after buying an additional 7,884 shares during the last quarter.

Mirum Pharmaceuticals Price Performance

Shares of MIRM stock traded up $0.45 on Friday, hitting $74.65. 930,389 shares of the stock traded hands, compared to its average volume of 837,848. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -61.69 and a beta of 0.94. Mirum Pharmaceuticals has a 52 week low of $36.86 and a 52 week high of $75.41. The firm has a 50 day simple moving average of $56.19 and a two-hundred day simple moving average of $48.90. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97.

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

Mirum Pharmaceuticals Company Profile

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.