Mirum Pharmaceuticals’ (MIRM) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Mirum Pharmaceuticals (NASDAQ:MIRM) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $137.00 target price on the stock.

Several other research analysts also recently commented on the company. Royal Bank Of Canada reduced their price objective on Mirum Pharmaceuticals from $148.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Wolfe Research assumed coverage on shares of Mirum Pharmaceuticals in a research note on Tuesday, May 19th. They set an “outperform” rating and a $145.00 target price on the stock. HC Wainwright dropped their target price on shares of Mirum Pharmaceuticals from $185.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wall Street Zen cut shares of Mirum Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, UBS Group set a $137.00 price target on shares of Mirum Pharmaceuticals in a research note on Thursday. One research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.31.

Mirum Pharmaceuticals Trading Down 2.3%

MIRM stock opened at $97.46 on Thursday. 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 12-month low of $63.23 and a 12-month high of $130.00. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of -6.70 and a beta of 0.52. The business’s 50-day moving average is $110.63 and its 200 day moving average is $101.79.

Mirum Pharmaceuticals (NASDAQ:MIRM) last announced its 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 firm had revenue of $176.24 million for the quarter, compared to analyst estimates of $166.33 million. Mirum Pharmaceuticals had a negative net margin of 139.18% and a negative return on equity of 36.28%. Mirum Pharmaceuticals’s revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) EPS. On average, sell-side analysts anticipate that Mirum Pharmaceuticals will post -1.31 EPS for the current fiscal year.

Insider Transactions at Mirum Pharmaceuticals

In related news, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the completion of the sale, the chief executive officer owned 194,309 shares in the company, valued at approximately $18,622,574.56. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Bjerkholt sold 6,001 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $99.90, for a total value of $599,499.90. Following the completion of the sale, the chief financial officer directly owned 36,355 shares in the company, valued at approximately $3,631,864.50. The trade was a 14.17% 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 three months, insiders have sold 133,156 shares of company stock worth $13,763,562. 8.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LP grew its stake in shares of Mirum Pharmaceuticals by 131.7% in the second quarter. Corient Private Wealth LP now owns 13,369 shares of the company’s stock valued at $1,565,000 after buying an additional 7,599 shares in the last quarter. Amundi acquired a new position in Mirum Pharmaceuticals during the 2nd quarter worth about $363,000. California State Teachers Retirement System lifted its stake in Mirum Pharmaceuticals by 12,542.7% during the 2nd quarter. California State Teachers Retirement System now owns 5,622,989 shares of the company’s stock worth $658,283,000 after acquiring an additional 5,578,513 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Mirum Pharmaceuticals by 117.2% during the 2nd quarter. Alyeska Investment Group L.P. now owns 73,959 shares of the company’s stock valued at $8,658,000 after acquiring an additional 39,908 shares during the period. Finally, Penn Capital Management Company LLC boosted its holdings in Mirum Pharmaceuticals by 16.4% during the 2nd quarter. Penn Capital Management Company LLC now owns 298,914 shares of the company’s stock valued at $35,056,000 after acquiring an additional 42,147 shares during the period.

Mirum Pharmaceuticals Company Profile

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.