Mirum Pharmaceuticals (NASDAQ:MIRM) Posts Earnings Results

Mirum Pharmaceuticals (NASDAQ:MIRM) issued its quarterly earnings results on Tuesday. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.38), Zacks reports. The company had revenue of $185.72 million during the quarter, compared to analyst estimates of $178.07 million. Mirum Pharmaceuticals had a negative return on equity of 36.28% and a negative net margin of 139.18%.

Mirum Pharmaceuticals Price Performance

NASDAQ:MIRM traded up $1.29 during trading hours on Tuesday, reaching $87.03. 635,379 shares of the company’s stock were exchanged, compared to its average volume of 837,380. The company has a quick ratio of 2.74, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $5.65 billion, a P/E ratio of -5.98 and a beta of 0.61. Mirum Pharmaceuticals has a 12 month low of $63.23 and a 12 month high of $130.00. The business’s 50-day simple moving average is $89.72 and its two-hundred day simple moving average is $98.44.

Wall Street Analyst Weigh In

Several brokerages recently commented on MIRM. Robert W. Baird boosted their target price on Mirum Pharmaceuticals from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Stifel Nicolaus increased their price target on Mirum Pharmaceuticals from $136.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Wall Street Zen cut Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, September 6th. TD Cowen lifted their price target on Mirum Pharmaceuticals from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Finally, Evercore reissued an “outperform” rating and issued a $146.00 price objective on shares of Mirum Pharmaceuticals in a research note on Tuesday, October 13th. 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, Mirum Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $148.19.

Insider Buying and Selling at Mirum Pharmaceuticals

In related news, CFO Eric Bjerkholt sold 6,001 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $99.90, for a total value of $599,499.90. Following the transaction, the chief financial officer directly owned 36,355 shares in the company, valued at $3,631,864.50. The trade was a 14.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jolanda Howe sold 40,000 shares of Mirum Pharmaceuticals stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $100.00, for a total value of $4,000,000.00. Following the completion of the transaction, the senior vice president owned 1,274 shares in the company, valued at $127,400. The trade was a 96.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 96,659 shares of company stock valued at $9,604,100. Corporate insiders own 8.32% of the company’s stock.

About Mirum Pharmaceuticals

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.