Mirum Pharmaceuticals (NASDAQ:MIRM) Raised to “Hold” at Wall Street Zen

Mirum Pharmaceuticals (NASDAQ:MIRM) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms have also recently weighed in on MIRM. Raymond James Financial restated a “strong-buy” rating and issued a $165.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Morgan Stanley set a $137.00 target price on shares of Mirum Pharmaceuticals in a research report on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $138.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Citizens Jmp reaffirmed a “market outperform” rating and set a $137.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday. Finally, Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They set an “outperform” rating and a $145.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.31.

Mirum Pharmaceuticals Stock Performance

NASDAQ:MIRM opened at $97.46 on Friday. The business’s 50-day moving average is $110.63 and its two-hundred day moving average is $101.80. The firm has a market capitalization of $6.33 billion, a PE ratio of -6.70 and a beta of 0.52. Mirum Pharmaceuticals has a 12 month low of $63.23 and a 12 month high of $130.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.86 and a quick ratio of 2.74.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.32). Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.The company had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. During the same period in the previous year, the company earned ($0.12) EPS. Mirum Pharmaceuticals’s quarterly revenue was up 37.9% on a year-over-year basis. Research analysts predict that Mirum Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Eric Bjerkholt sold 6,001 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the sale, the chief financial officer directly owned 36,355 shares of the company’s stock, valued at $3,631,864.50. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $122.27, for a total transaction of $2,445,400.00. Following the transaction, the chief executive officer owned 194,309 shares in the company, valued at $23,758,161.43. This trade represents a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 103,156 shares of company stock worth $10,888,362. 8.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Mirum Pharmaceuticals in the fourth quarter valued at about $30,000. Eurizon Capital SGR S.p.A. acquired a new stake in Mirum Pharmaceuticals in the 4th quarter valued at approximately $32,000. CIBC Private Wealth Group LLC bought a new stake in shares of Mirum Pharmaceuticals during the fourth quarter valued at about $32,000. Quantbot Technologies LP bought a new stake in shares of Mirum Pharmaceuticals during the 3rd quarter worth about $33,000. Finally, Comerica Bank lifted its stake in shares of Mirum Pharmaceuticals by 45.1% in the 1st quarter. Comerica Bank now owns 895 shares of the company’s stock worth $40,000 after acquiring an additional 278 shares during the period.

Mirum Pharmaceuticals Company Profile

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.