Mirum Pharmaceuticals (NASDAQ:MIRM) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Mirum Pharmaceuticals (NASDAQ:MIRM) from a hold rating to a sell rating in a research report released on Sunday morning.

MIRM has been the subject of several other reports. TD Cowen decreased their price objective on shares of Mirum Pharmaceuticals from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Citizens Jmp dropped their target price on Mirum Pharmaceuticals from $146.00 to $137.00 and set a “market outperform” rating on the stock in a report on Thursday, August 6th. Wolfe Research initiated coverage on Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $145.00 price target on the stock. HC Wainwright decreased their price target on Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $165.00 price objective on shares of Mirum Pharmaceuticals in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

Mirum Pharmaceuticals Stock Up 1.0%

Shares of NASDAQ:MIRM opened at $100.87 on Friday. The firm’s 50 day moving average price is $111.14 and its 200 day moving average price is $102.03. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -6.93 and a beta of 0.52. Mirum Pharmaceuticals has a fifty-two week low of $63.23 and a fifty-two week high of $130.00. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $176.24 million during the quarter, compared to analysts’ expectations of $166.33 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The firm’s revenue was up 37.9% compared to the same quarter last year. As a group, equities research analysts predict that Mirum Pharmaceuticals will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Jolanda Howe sold 2,721 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total value of $326,520.00. Following the transaction, the senior vice president directly owned 3,114 shares of the company’s stock, valued at $373,680. This trade represents a 46.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total transaction of $2,875,200.00. Following the completion of the sale, the chief executive officer directly owned 194,309 shares of the company’s stock, valued at approximately $18,622,574.56. This trade represents a 13.37% 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 quarter, insiders sold 93,156 shares of company stock worth $9,763,562. Corporate insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

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

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.