Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded at Wolfe Research

Key Points

• Wolfe Research upgraded Mirum Pharmaceuticals to “strong-buy,” adding to a generally bullish analyst backdrop. The stock now carries a consensus “Buy” rating with an average price target of $137.08.
• Mirum reported mixed quarterly results, missing EPS estimates badly with a loss of $13.43 per share but beating revenue expectations at $159.88 million, up 43.3% year over year.
• Insider selling has been notable, with executives including the SVP and CFO selling shares recently and insiders disposing of 76,806 shares worth about $7.1 million over the last 90 days.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) was upgraded by equities research analysts at Wolfe Research to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

MIRM has been the subject of a number of other research reports. TD Cowen upped their price target on Mirum Pharmaceuticals from $125.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Morgan Stanley upped their price target on Mirum Pharmaceuticals from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Robert W. Baird upped their price target on Mirum Pharmaceuticals from $112.00 to $129.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $165.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Finally, Evercore reaffirmed an "outperform" rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $137.08.

Mirum Pharmaceuticals Stock Up 0.2%

Shares of NASDAQ:MIRM opened at $95.65 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.99 and a current ratio of 2.09. Mirum Pharmaceuticals has a 1 year low of $42.89 and a 1 year high of $114.99. The stock has a market capitalization of $5.83 billion, a P/E ratio of -7.03 and a beta of 0.52. The stock has a 50-day simple moving average of $95.71 and a 200-day simple moving average of $87.97.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($13.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($12.68). The firm had revenue of $159.88 million for the quarter, compared to analysts' expectations of $148.21 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) EPS. Equities analysts forecast that Mirum Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Buying and Selling at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 4,732 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $435,249.36. Following the sale, the senior vice president directly owned 8,429 shares of the company's stock, valued at $775,299.42. This trade represents a 35.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric Bjerkholt sold 7,287 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $91.98, for a total value of $670,258.26. Following the completion of the sale, the chief financial officer directly owned 49,788 shares in the company, valued at $4,579,500.24. This represents a 12.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 76,806 shares of company stock worth $7,064,616. 22.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several large investors have recently added to or reduced their stakes in MIRM. Comerica Bank grew its stake in shares of Mirum Pharmaceuticals by 45.1% in the first quarter. Comerica Bank now owns 895 shares of the company's stock worth $40,000 after purchasing an additional 278 shares in the last quarter. AQR Capital Management LLC lifted its stake in Mirum Pharmaceuticals by 307.3% in the 1st quarter. AQR Capital Management LLC now owns 49,076 shares of the company's stock worth $2,211,000 after acquiring an additional 37,028 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Mirum Pharmaceuticals by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,047 shares of the company's stock worth $1,176,000 after acquiring an additional 1,720 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Mirum Pharmaceuticals during the 1st quarter worth about $217,000. Finally, Empowered Funds LLC raised its stake in shares of Mirum Pharmaceuticals by 15.4% during the 1st quarter. Empowered Funds LLC now owns 38,386 shares of the company's stock worth $1,729,000 after purchasing an additional 5,120 shares in the last quarter.

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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