Mirum Pharmaceuticals (NASDAQ:MIRM) CEO Sells $1,800,000.00 in Stock

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) CEO Christopher Peetz sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief executive officer directly owned 206,637 shares of the company’s stock, valued at $18,597,330. The trade was a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Peetz also recently made the following trade(s):

• On Tuesday, September 1st, Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $98.68, for a total value of $2,960,400.00.
• On Monday, August 10th, Christopher Peetz sold 20,000 shares of Mirum Pharmaceuticals stock. The shares were sold at an average price of $98.92, for a total value of $1,978,400.00.

Mirum Pharmaceuticals Stock Up 11.4%

Shares of NASDAQ:MIRM traded up $9.94 during midday trading on Wednesday, reaching $96.97. 1,153,638 shares of the company traded hands, compared to its average volume of 685,065. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.74 and a current ratio of 2.86. Mirum Pharmaceuticals, Inc. has a 12 month low of $63.23 and a 12 month high of $130.00. The firm’s fifty day moving average price is $89.51 and its two-hundred day moving average price is $98.44.

Mirum Pharmaceuticals (NASDAQ:MIRM) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.38). Mirum Pharmaceuticals had a negative return on equity of 65.71% and a negative net margin of 134.75%. The company had revenue of $185.72 million during the quarter, compared to the consensus estimate of $178.07 million. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 39.6% compared to the same quarter last year. Analysts predict that Mirum Pharmaceuticals, Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MIRM. TD Cowen raised their price objective on shares of Mirum Pharmaceuticals from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Weiss Ratings lowered shares of Mirum Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 22nd. Morgan Stanley upped their target price on shares of Mirum Pharmaceuticals from $137.00 to $152.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. UBS Group set a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $189.00 price target on shares of Mirum Pharmaceuticals in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.56.

Institutional Investors Weigh In On Mirum Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. boosted its holdings in shares of Mirum Pharmaceuticals by 2.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,604 shares of the company’s stock worth $539,000 after purchasing an additional 103 shares in the last quarter. ABS Investment Management LLC purchased a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $245,847,000. Integrated Wealth Concepts LLC purchased a new position in shares of Mirum Pharmaceuticals during the 2nd quarter valued at about $27,000. Commonwealth Equity Services LLC raised its holdings in shares of Mirum Pharmaceuticals by 10.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,471 shares of the company’s stock valued at $211,000 after buying an additional 241 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Mirum Pharmaceuticals in the 2nd quarter worth approximately $44,000.

Trending Headlines about Mirum Pharmaceuticals

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Several firms raised their price targets: Citizens JMP to $167 from $144, HC Wainwright to $202 from $200, and Cantor Fitzgerald to $160 from $155. RBC reaffirmed its “outperform” rating and $155 target. The favorable analyst outlook is a likely driver of the stock’s strength. Citizens JMP recommendations HC Wainwright recommendations Cantor Fitzgerald recommendations RBC rating report
• Positive Sentiment: Third-quarter revenue rose 39.6% year over year to $185.72 million, exceeding analyst expectations of about $178 million. Mirum Q3 results and business update
• Positive Sentiment: Mirum also announced new data across its rare liver disease portfolio for presentation at AASLD’s The Liver Meeting, a potential source of investor interest in its pipeline. AASLD portfolio data announcement
• Negative Sentiment: The company reported a Q3 loss of $0.87 per share, wider than the roughly $0.49–$0.53 loss analysts expected, and below the $0.05 per-share profit a year earlier. This earnings miss tempers the positive revenue and analyst news. Q3 earnings report

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare diseases, particularly disorders affecting the liver and bile acid pathways. The company’s medicines are designed to address conditions with limited treatment options and to improve outcomes for children and adults living with serious chronic diseases.

Mirum’s lead product is LIVMARLI (maralixibat), an oral bile acid transport inhibitor used to treat cholestatic pruritus, or severe itching caused by impaired bile flow, in patients with Alagille syndrome and progressive familial intrahepatic cholestasis.