Mirum Pharmaceuticals (NASDAQ:MIRM) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Mirum Pharmaceuticals from “hold” to “sell,” even as several other analysts remained bullish and the consensus rating stayed at Moderate Buy with a $136.42 price target.
• Mirum reported a much larger-than-expected quarterly loss, posting ($13.43) EPS versus the expected ($0.39), though revenue came in above estimates at $159.88 million and rose 43.3% year over year.
• Shares were up 4.1% to $107.16, near the stock’s 52-week high of $112.00, while insiders have also been selling shares recently, including the CFO and COO.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

MIRM has been the subject of several other research reports. Royal Bank Of Canada raised their target price on Mirum Pharmaceuticals from $128.00 to $142.00 and gave the stock an "outperform" rating in a research note on Thursday. Robert W. Baird raised their target price on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an "outperform" rating in a research note on Thursday. Citizens Jmp restated a "market outperform" rating and issued a $132.00 target price on shares of Mirum Pharmaceuticals in a research note on Tuesday, April 21st. Stifel Nicolaus set a $136.00 target price on Mirum Pharmaceuticals in a research note on Thursday. Finally, Morgan Stanley raised their target price on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $136.42.

Mirum Pharmaceuticals Stock Up 4.1%

MIRM stock opened at $107.16 on Friday. Mirum Pharmaceuticals has a fifty-two week low of $42.89 and a fifty-two week high of $112.00. The stock has a fifty day moving average of $93.79 and a 200-day moving average of $86.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.55 and a current ratio of 2.67. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of -7.87 and a beta of 0.52.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($13.43) EPS for the quarter, missing the consensus estimate of ($0.39) by ($13.04). Mirum Pharmaceuticals had a negative return on equity of 10.84% and a negative net margin of 140.24%.The company had revenue of $159.88 million during the quarter, compared to the consensus estimate of $148.21 million. During the same quarter in the prior year, the business earned ($0.30) EPS. The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. As a group, equities research analysts predict that Mirum Pharmaceuticals will post -1.84 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, CFO Eric Bjerkholt sold 7,287 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the sale, the chief financial officer owned 49,788 shares of the company's stock, valued at $4,579,500.24. This trade represents a 12.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Peter Radovich sold 16,515 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $91.98, for a total value of $1,519,049.70. Following the completion of the sale, the chief operating officer directly owned 40,272 shares in the company, valued at approximately $3,704,218.56. The trade was a 29.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 76,806 shares of company stock worth $7,064,616. 14.36% of the stock is owned by insiders.

Hedge Funds Weigh In On Mirum Pharmaceuticals

A number of large investors have recently modified their holdings of MIRM. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals in the 4th quarter worth approximately $30,000. MCF Advisors LLC lifted its position in Mirum Pharmaceuticals by 76.4% in the 3rd quarter. MCF Advisors LLC now owns 427 shares of the company's stock worth $31,000 after buying an additional 185 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000. CIBC Private Wealth Group LLC bought a new stake in Mirum Pharmaceuticals in the 4th quarter worth approximately $32,000. Finally, Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals in the 3rd quarter worth approximately $33,000.

About Mirum Pharmaceuticals

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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