Mirum Pharmaceuticals (NASDAQ:MIRM) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Mirum Pharmaceuticals from a "strong-buy" to a "buy" rating, while other analysts maintain positive ratings and price targets ranging from $73.00 to $89.00.
• Despite this downgrade, Mirum Pharmaceuticals' stock has recently shown a positive trend, up 3.6% on the same day.
• CEO Christopher Peetz sold 40,000 shares of the company's stock, marking a 22.39% reduction in his holdings, as insiders sold a total of 91,041 shares in the last ninety days.

Wall Street Zen lowered shares of Mirum Pharmaceuticals (NASDAQ:MIRM - Free Report) from a strong-buy rating to a buy rating in a report issued on Monday morning.

A number of other research firms have also issued reports on MIRM. HC Wainwright boosted their price target 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. Raymond James Financial reiterated a "strong-buy" rating on shares of Mirum Pharmaceuticals in a research note on Thursday, August 7th. Stifel Nicolaus set a $89.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "buy" rating in a research note on Monday, August 11th. JMP Securities set a $81.00 price objective on shares of Mirum Pharmaceuticals and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Finally, Evercore ISI upped their price objective on shares of Mirum Pharmaceuticals from $77.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, Mirum Pharmaceuticals has an average rating of "Buy" and a consensus target price of $74.13.

Mirum Pharmaceuticals Price Performance

Shares of NASDAQ MIRM traded down $2.43 during midday trading on Monday, reaching $73.10. The company's stock had a trading volume of 404,909 shares, compared to its average volume of 519,782. The company has a current ratio of 3.13, a quick ratio of 2.97 and a debt-to-equity ratio of 1.21. The company has a 50 day moving average price of $56.68 and a 200 day moving average price of $49.07. Mirum Pharmaceuticals has a one year low of $36.86 and a one year high of $75.74. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -60.59 and a beta of 0.94.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.19. Mirum Pharmaceuticals had a negative net margin of 13.65% and a negative return on equity of 24.76%. The business had revenue of $127.79 million for the quarter, compared to analyst estimates of $107.91 million. During the same quarter in the previous year, the business earned ($0.52) earnings per share. The firm's revenue was up 64.1% compared to the same quarter last year. On average, equities research analysts expect that Mirum Pharmaceuticals will post -1.43 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Christopher Peetz sold 40,000 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $62.00, for a total transaction of $2,480,000.00. Following the completion of the transaction, the chief executive officer owned 138,641 shares in the company, valued at approximately $8,595,742. This represents a 22.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jolanda Howe sold 10,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the transaction, the senior vice president directly owned 2,426 shares in the company, valued at $140,708. The trade was a 80.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,041 shares of company stock valued at $5,320,624. Insiders own 14.36% of the company's stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of Mirum Pharmaceuticals by 259.4% in the 1st quarter. CWM LLC now owns 593 shares of the company's stock valued at $27,000 after purchasing an additional 428 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $35,000. Comerica Bank boosted its position 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. GF Fund Management CO. LTD. acquired a new stake in Mirum Pharmaceuticals during the 4th quarter worth approximately $42,000. Finally, Quarry LP acquired a new stake in Mirum Pharmaceuticals during the 1st quarter worth approximately $56,000.

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.