Mirum Pharmaceuticals (NASDAQ:MIRM) Shares Climb 4.8% – Here’s What Happened

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM)’s stock price rose 4.8% on Wednesday. The company traded as high as $82.73 and last traded at $83.0680. Approximately 599,622 shares were traded during trading, a decline of 30% from the average daily volume of 851,888 shares. The stock had previously closed at $79.25.

Analysts Set New Price Targets

Several research firms recently issued reports on MIRM. CLSA set a $146.00 price target on shares of Mirum Pharmaceuticals in a research report on Monday, June 15th. Citigroup reaffirmed a “buy” rating and issued a $160.00 price objective (up from $145.00) on shares of Mirum Pharmaceuticals in a research note on Monday, September 28th. Citizens Jmp reiterated a “market outperform” rating and set a $137.00 price objective on shares of Mirum Pharmaceuticals in a report on Thursday, August 27th. Morgan Stanley set a $144.00 target price on shares of Mirum Pharmaceuticals in a research report on Monday, September 28th. Finally, Robert W. Baird upped their target price on shares of Mirum Pharmaceuticals from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.81.

Mirum Pharmaceuticals Price Performance

The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. The business has a 50-day moving average of $95.48 and a 200 day moving average of $100.99. The firm has a market capitalization of $5.67 billion, a PE ratio of -5.98 and a beta of 0.61.

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

Insiders Place Their Bets

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 658 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.00, for a total value of $65,800.00. Following the completion of the sale, the senior vice president owned 616 shares in the company, valued at approximately $61,600. This trade represents a 51.65% 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 Mirum Pharmaceuticals stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $98.68, for a total transaction of $2,960,400.00. Following the transaction, the chief executive officer directly owned 194,440 shares in the company, valued at approximately $19,187,339.20. This represents a 13.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,499 shares of company stock valued at $9,797,834. Corporate insiders own 8.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Mirum Pharmaceuticals during the 2nd quarter valued at $27,000. Summit Securities Group LLC purchased a new stake in Mirum Pharmaceuticals during the first quarter worth about $42,000. Quantbot Technologies LP purchased a new stake in Mirum Pharmaceuticals during the second quarter worth about $44,000. State of Wyoming bought a new stake in Mirum Pharmaceuticals in the second quarter worth about $52,000. Finally, Fifth Third Bancorp purchased a new position in Mirum Pharmaceuticals in the first quarter valued at about $56,000.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare diseases of the liver and gastrointestinal system. The company’s work centers on conditions involving impaired bile acid transport and cholestasis, which can cause serious liver damage and debilitating symptoms such as itching.

Mirum’s primary commercial product is Livmarli (maralixibat), an oral ileal bile acid transporter inhibitor. In the United States, Livmarli is approved to treat cholestatic pruritus associated with Alagille syndrome and progressive familial intrahepatic cholestasis in eligible pediatric patients.