Free Trial

Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Up 6.9% - Should You Buy?

Mirum Pharmaceuticals logo with Medical background

Key Points

  • Mirum Pharmaceuticals shares increased by 6.9%, reaching a last trading price of $77.88, despite an 81% decline in trading volume compared to the average session.
  • Analysts have varying opinions on the stock, with ratings ranging from "strong-buy" to "sell", though the overall average rating is "Buy" with a target price of $76.50.
  • The company reported a quarterly revenue of $127.79 million, significantly surpassing expectations, and lowered its net loss to ($0.12) EPS, compared to last year's ($0.52) EPS.
  • Five stocks we like better than Mirum Pharmaceuticals.

Shares of Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM - Get Free Report) shot up 6.9% during trading on Thursday . The stock traded as high as $75.97 and last traded at $77.88. 106,663 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 549,016 shares. The stock had previously closed at $72.85.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MIRM. Wall Street Zen upgraded shares of Mirum Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, September 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Mirum Pharmaceuticals in a report on Wednesday. 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 report on Thursday, August 7th. 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 report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mirum Pharmaceuticals from $53.00 to $77.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $76.50.

Get Our Latest Research Report on Mirum Pharmaceuticals

Mirum Pharmaceuticals Trading Up 1.3%

The company's 50-day simple moving average is $69.88 and its 200-day simple moving average is $54.35. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.97 and a current ratio of 3.13.

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 during the quarter, compared to analysts' expectations of $107.91 million. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The business's revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.52) earnings per share. On average, research analysts forecast that Mirum Pharmaceuticals, Inc. will post -1.43 EPS for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, Director Laura Brege sold 17,000 shares of Mirum Pharmaceuticals stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $74.40, for a total transaction of $1,264,800.00. Following the completion of the transaction, the director owned 15,703 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, CFO Eric Bjerkholt sold 9,578 shares of Mirum Pharmaceuticals stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $76.01, for a total transaction of $728,023.78. Following the transaction, the chief financial officer 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. In the last three months, 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

Institutional investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new position in Mirum Pharmaceuticals in the first quarter valued at approximately $29,495,000. Federated Hermes Inc. boosted its position in Mirum Pharmaceuticals by 9,440.4% during the 1st quarter. Federated Hermes Inc. now owns 347,366 shares of the company's stock worth $15,649,000 after purchasing an additional 343,725 shares during the period. Emerald Advisers LLC purchased a new position in Mirum Pharmaceuticals in the second quarter valued at about $15,560,000. Soleus Capital Management L.P. acquired a new position in shares of Mirum Pharmaceuticals during the second quarter worth about $15,201,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Mirum Pharmaceuticals by 101.1% in the second quarter. Bank of New York Mellon Corp now owns 496,061 shares of the company's stock valued at $25,245,000 after buying an additional 249,331 shares in the last quarter.

Mirum Pharmaceuticals Company Profile

(Get Free Report)

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.

Featured Articles

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.

Should You Invest $1,000 in Mirum Pharmaceuticals Right Now?

Before you consider Mirum Pharmaceuticals, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mirum Pharmaceuticals wasn't on the list.

While Mirum Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.