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

Key Points

• Mirum Pharmaceuticals has an average rating of "Buy" from analysts, with a consensus twelve-month target price of $76.50.
• Insider transactions show significant selling activity, with Director Laura Brege selling 17,000 shares and CFO Eric Bjerkholt selling 9,578 shares recently.
• The company reported strong financial results for the last quarter, with revenue of $127.79 million, a 64.1% increase year-over-year, and a loss of ($0.12) EPS which beat the consensus estimate.

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) has been assigned a consensus recommendation of "Buy" from the twelve research firms that are presently covering the firm, MarketBeat reports. One research 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $76.50.

MIRM has been the subject of several recent research reports. Stifel Nicolaus set a $89.00 price target on shares of Mirum Pharmaceuticals and gave the company a "buy" rating in a research report on Monday, August 11th. JMP Securities set a $81.00 price objective on shares of Mirum Pharmaceuticals and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Evercore ISI increased their price target on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an "overweight" rating in a research note on Friday, September 12th.

Insider Activity at Mirum Pharmaceuticals

In related news, Director Laura Brege sold 17,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $74.40, for a total value of $1,264,800.00. Following the completion of the sale, the director directly owned 15,703 shares of the company's stock, valued at $1,168,303.20. The trade was a 51.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Bjerkholt sold 9,578 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $76.01, for a total transaction of $728,023.78. Following the completion of the sale, the chief financial officer directly owned 39,945 shares of the company's stock, valued at approximately $3,036,219.45. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,578 shares of company stock valued at $7,262,824 in the last ninety days. 14.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of MIRM. Vanguard Group Inc. raised its holdings in shares of Mirum Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,540,061 shares of the company's stock valued at $114,430,000 after buying an additional 115,327 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Mirum Pharmaceuticals by 4,555.0% in the first quarter. GAMMA Investing LLC now owns 5,586 shares of the company's stock valued at $252,000 after buying an additional 5,466 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Mirum Pharmaceuticals by 174.9% in the first quarter. SG Americas Securities LLC now owns 19,182 shares of the company's stock valued at $864,000 after buying an additional 12,204 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Mirum Pharmaceuticals by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,685 shares of the company's stock valued at $752,000 after buying an additional 339 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $270,000.

Mirum Pharmaceuticals Stock Down 1.5%

Mirum Pharmaceuticals stock opened at $72.71 on Friday. Mirum Pharmaceuticals has a fifty-two week low of $36.88 and a fifty-two week high of $78.54. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13. The firm has a 50 day moving average price of $70.73 and a 200 day moving average price of $54.72. The company has a market capitalization of $3.65 billion, a PE ratio of -60.09 and a beta of 0.81.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last posted its 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 net margin of 13.65% and a negative return on equity of 24.76%. The firm had revenue of $127.79 million during the quarter, compared to the consensus estimate of $107.91 million. During the same quarter last year, the firm earned ($0.52) EPS. The firm's revenue for the quarter was up 64.1% on a year-over-year basis. Research analysts expect that Mirum Pharmaceuticals will post -1.43 earnings per share for the current 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.

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.