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

Key Points

• Wall Street sentiment is bullish: Mirum Pharmaceuticals has an average broker recommendation of “Buy” from 15 analysts, with an average 1-year price target of about $137.08.
• Recent earnings were mixed: The company reported revenue of $159.88 million, beating estimates and rising 43.3% year over year, but EPS of ($13.43) missed expectations by a wide margin.
• Insiders have been selling shares: CEO Christopher Peetz and insider Joanne Quan both sold stock recently, and insiders sold a total of 76,806 shares worth about $7.06 million over the last three months.

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) have received an average recommendation of "Buy" from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $137.0769.

MIRM has been the topic of several recent research reports. Morgan Stanley upped their price objective on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Robert W. Baird upped their price objective on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Raymond James Financial restated a "strong-buy" rating and issued a $165.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Wall Street Zen downgraded Mirum Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday.

Mirum Pharmaceuticals Stock Down 2.0%

Shares of NASDAQ:MIRM opened at $98.62 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 52-week low of $42.89 and a 52-week high of $114.99. The stock's fifty day simple moving average is $96.20 and its 200-day simple moving average is $88.41. The company has a market capitalization of $6.01 billion, a P/E ratio of -7.25 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($12.68). Mirum Pharmaceuticals had a negative net margin of 140.24% and a negative return on equity of 11.28%. The company had revenue of $159.88 million during the quarter, compared to analysts' expectations of $148.21 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The firm's revenue was up 43.3% compared to the same quarter last year. As a group, equities research analysts forecast that Mirum Pharmaceuticals will post -2.11 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joanne Quan sold 7,287 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total transaction of $670,258.26. Following the transaction, the insider directly owned 18,864 shares in the company, valued at approximately $1,735,110.72. This represents a 27.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Peetz sold 40,985 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $3,769,800.30. Following the transaction, the chief executive officer owned 194,309 shares in the company, valued at $17,872,541.82. This trade represents a 17.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 76,806 shares of company stock valued at $7,064,616 in the last three months. Company insiders own 14.36% of the company's stock.

Hedge Funds Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in Mirum Pharmaceuticals by 14.5% during the first quarter. Janus Henderson Group PLC now owns 6,945,813 shares of the company's stock worth $641,764,000 after buying an additional 880,505 shares during the period. ADAR1 Capital Management LLC purchased a new position in Mirum Pharmaceuticals during the first quarter worth about $573,000. California State Teachers Retirement System lifted its position in Mirum Pharmaceuticals by 22.1% during the first quarter. California State Teachers Retirement System now owns 44,476 shares of the company's stock worth $4,109,000 after buying an additional 8,065 shares during the period. Rock Springs Capital Management LP lifted its position in Mirum Pharmaceuticals by 6.4% during the first quarter. Rock Springs Capital Management LP now owns 811,294 shares of the company's stock worth $74,947,000 after buying an additional 49,000 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Mirum Pharmaceuticals by 63.3% during the first quarter. The Manufacturers Life Insurance Company now owns 55,693 shares of the company's stock worth $5,145,000 after buying an additional 21,579 shares during the period.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

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