Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded at Wall Street Zen

Key Points

• Mirum Pharmaceuticals has been upgraded from a "buy" rating to a "strong-buy" rating by Wall Street Zen, reflecting an optimistic outlook from analysts.
• The company reported a quarterly revenue of $127.79 million, significantly exceeding analyst estimates, marking a 64.1% year-over-year increase.
• Insider trading activity included CEO Christopher Peetz selling 40,000 shares, resulting in a 22.39% decrease in his holdings, highlighting potential concerns about insider confidence.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

Other equities analysts have also recently issued research reports about the company. 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. TD Cowen upgraded Mirum Pharmaceuticals to a "strong-buy" rating in a report on Thursday. Evercore ISI lifted their price objective on Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a report on Thursday, August 7th. Finally, JMP Securities set a $81.00 target price on Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to MarketBeat, Mirum Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $76.50.

Mirum Pharmaceuticals Trading Down 1.1%

MIRM stock traded down $0.81 during midday trading on Friday, reaching $72.76. The stock had a trading volume of 647,027 shares, compared to its average volume of 734,016. The business has a fifty day simple moving average of $66.52 and a two-hundred day simple moving average of $52.85. The company has a quick ratio of 2.97, a current ratio of 3.13 and a debt-to-equity ratio of 1.21. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -60.13 and a beta of 0.92. Mirum Pharmaceuticals has a twelve month low of $36.88 and a twelve month high of $78.10.

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, topping analysts' consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative return on equity of 24.76% and a negative net margin of 13.65%.The firm had revenue of $127.79 million during the quarter, compared to analyst estimates of $107.91 million. During the same period last year, the company earned ($0.52) earnings per share. The company's revenue was up 64.1% on a year-over-year basis. As a group, research analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Mirum Pharmaceuticals news, CEO Christopher Peetz sold 40,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the transaction, the chief executive officer owned 138,641 shares of the company's stock, valued at $8,595,742. The trade was a 22.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jolanda Howe sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the transaction, the senior vice president directly owned 2,426 shares in the company, valued at $140,708. This trade represents a 80.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,619 shares of company stock worth $7,313,448 over the last 90 days. Company insiders own 14.36% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIRM. Nuveen LLC acquired a new position in shares of Mirum Pharmaceuticals during the 1st quarter worth approximately $29,495,000. Federated Hermes Inc. increased its position in shares of 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 last quarter. Emerald Advisers LLC acquired a new position in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $15,560,000. Soleus Capital Management L.P. acquired a new position in shares of Mirum Pharmaceuticals during the 2nd quarter worth approximately $15,201,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Mirum Pharmaceuticals by 101.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,061 shares of the company's stock worth $25,245,000 after acquiring an additional 249,331 shares during the last quarter.

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.

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