Mirum Pharmaceuticals (NASDAQ:MIRM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mirum Pharmaceuticals (NASDAQ:MIRM) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other brokerages also recently commented on MIRM. Citizens Jmp reaffirmed a “market outperform” rating and issued a $137.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, August 27th. Royal Bank Of Canada reduced their price target on shares of Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday. HC Wainwright lowered their price objective on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Citigroup restated a “market outperform” rating on shares of Mirum Pharmaceuticals in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Mirum Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $137.31.

Mirum Pharmaceuticals Price Performance

Shares of MIRM opened at $98.05 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.74 and a debt-to-equity ratio of 1.28. Mirum Pharmaceuticals has a 1 year low of $63.23 and a 1 year high of $130.00. The stock has a market cap of $6.37 billion, a P/E ratio of -6.74 and a beta of 0.52. The stock’s 50-day moving average price is $110.44 and its two-hundred day moving average price is $101.78.

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

Insiders Place Their Bets

In other news, CEO Christopher Peetz sold 20,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $98.92, for a total transaction of $1,978,400.00. Following the completion of the sale, the chief executive officer owned 194,309 shares of the company’s stock, valued at $19,221,046.28. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total transaction 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 position. 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 have sold 103,156 shares of company stock worth $10,888,362. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On Mirum Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in MIRM. BlackRock Inc. bought a new stake in shares of Mirum Pharmaceuticals in the second quarter valued at about $513,945,000. Nan Fung Trinity HK Ltd. boosted its position in shares of Mirum Pharmaceuticals by 45.6% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 227,479 shares of the company’s stock worth $17,969,000 after buying an additional 71,214 shares during the period. Emerald Advisers LLC grew its holdings in shares of Mirum Pharmaceuticals by 8.2% during the first quarter. Emerald Advisers LLC now owns 397,263 shares of the company’s stock worth $36,699,000 after buying an additional 30,129 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Mirum Pharmaceuticals during the fourth quarter worth about $1,283,000. Finally, Rice Hall James & Associates LLC acquired a new stake in Mirum Pharmaceuticals in the 2nd quarter valued at approximately $12,956,000.

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.