Mirum Pharmaceuticals' (MIRM) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated its "Sell (D-)" rating for Mirum Pharmaceuticals (MIRM), indicating ongoing concerns about the company's stock performance.
• Mirum Pharmaceuticals reported a 64.1% increase in quarterly revenue year-over-year, surpassing analyst expectations with $127.79 million in revenue.
• Despite some analysts rating the stock as a "Strong Buy" and increasing price targets, there is a consensus rating of "Buy" with an average price target of $76.50.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently commented on the stock. Evercore ISI lifted 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. Raymond James Financial reissued a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research report on Thursday, August 7th. Wall Street Zen raised Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. Finally, Stifel Nicolaus set a $89.00 price objective on Mirum Pharmaceuticals and gave the company a "buy" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Mirum Pharmaceuticals has a consensus rating of "Buy" and an average price target of $76.50.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM opened at $72.85 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.13 and a quick ratio of 2.97. The business has a 50-day moving average of $69.88 and a 200-day moving average of $54.35. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -60.21 and a beta of 0.81. Mirum Pharmaceuticals has a fifty-two week low of $36.88 and a fifty-two week high of $78.10.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The business's quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.52) earnings per share. As a group, sell-side analysts predict that Mirum Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In other 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 transaction of $580,000.00. Following the transaction, the senior vice president owned 2,426 shares in the company, valued at approximately $140,708. The trade was a 80.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Bjerkholt sold 9,578 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $76.01, for a total value 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. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,578 shares of company stock worth $7,262,824. 14.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in Mirum Pharmaceuticals by 259.4% during the first quarter. CWM LLC now owns 593 shares of the company's stock worth $27,000 after acquiring an additional 428 shares in the last quarter. Comerica Bank raised its stake in Mirum Pharmaceuticals by 45.1% during the 1st quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after buying an additional 278 shares during the period. Quarry LP bought a new position in Mirum Pharmaceuticals in the first quarter worth approximately $56,000. Osaic Holdings Inc. grew its stake in Mirum Pharmaceuticals by 46.5% in the second quarter. Osaic Holdings Inc. now owns 1,106 shares of the company's stock valued at $56,000 after acquiring an additional 351 shares during the period. Finally, KBC Group NV bought a new stake in shares of Mirum Pharmaceuticals during the first quarter valued at approximately $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.

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